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Foreign Investors Set Their Sights on Vancouver
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(Posted on Apr 1, 2016 at 04:11PM by Michelle Bogle)
Foreign investment in the Canadian commercial real estate industry has been on the rise for quite some time. In fact, in the last six months, foreign investment figures have climbed by 143%, which translates to an astounding $1.85 billion.
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And, the Metro Vancouver Area is seeing a bulk of that incoming capital – $798 million of it, to be exact, with most of it funneling in from China.
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Many industry insiders claim that global uncertainty, the low Canadian dollar and perceived factors, such as political stability, an emphasis on higher education and livability, make Vancouver an ideal market for foreigners to invest in.Â
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And, they are. Take the multi-family rental market, for example, which saw a huge increase in 2015 – sales rose by 47% to 181 transactions and the dollar volume increased by 99% to $1.55 billion last year compared to 2014. Many of these investors are from outside of Canada.
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This trend isn’t looking to slow either. In fact, according to Dan Scarrow of the Canadian Real Estate Investment Centre located in Shanghai, China, younger Chinese-Canadians are expected to buy real estate in the future, as they are set to inherit more than $1 trillion over the next three decades.
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It’s no wonder why the world has their eyes on Canada’s commercial real estate market, especially on the Lower Mainland.
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For more information on foreign investments in the Vancouver area, please contact our office to speak to one of our advisors.
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