While money has been migrating away from Vancouver, the shift may not be permanent
Chinese investment in Vancouver commercial property from companies such as Anbang Insurance Group Co. has slumped amid a flood of regulations, with investors looking to Toronto instead.
The numbers provided by CBRE are only based on known buyers though many “go to great lengths to protect their identities and remain confidential,” the brokerage firm said. Leaping EastwardIn Vancouver, Chinese investment “had always been predicated on land, placing bets on land, whether it’s old shopping centers or office buildings even — they see underlying development and land value,” Bal Atwal, a principal at brokerage firm Avison Young, said. “They’re looking at Toronto now because they’re seeing a better arbitrage on that than they are here.”
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Chinese real-estate investors wary of Vancouver head to TorontoChinese investment in Vancouver commercial property from companies such as Anbang Insurance Group Co. has slumped amid a flood of regulations, with investors looking to Toronto instead.
Read more »
Banning Bully Offers Won't Make Ontario Real Estate Any More Fair (Blog)Realtors have called for an end to pre-emptive bids, but a ban won't address the root of the problem.
Read more »
Real Estate: What $500,000 will buy in five Canadian cities - Macleans.caFrom a sprawling Edmonton two-storey home to a compact condo in downtown Vancouver, here's what $500,000 will buy across Canada.
Read more »
After eight games on the road, Toronto Arrows bring pro rugby union to TorontoAfter eight games on the road, Toronto Arrows bring pro rugby union to Toronto Globe_Sports
Read more »
Will power: How to ensure your estate plan benefits your heirs, not the tax manThe Globe and Mail's Personal Finance section offers news, in-depth analysis and expert tips on how to make money and save more money in all aspects of your life.
Read more »
Metro Vancouver mayors call for countrywide annual funding for transitMetro Vancouver mayors call for countrywide annual funding for transit GlobeBC
Read more »
Wilson-Raybould urges restraint after supportive graffiti at Vancouver constituency officeVancouver police have arrested a 37-year-old man for allegedly using several cans of spray paint to express support for former federal attorney general Jody Wilson-Raybould.
Read more »