Now industry development in China is showing interest in commercial properties in the region. It is part of a cross Canada-trend, says Colliers International said in a report released earlier this month: "Canadian owners have traditionally been the market buyers of real estate assets, but an increasing mix of international property investors, specifically developers Chinese are trying to park their capital in stable markets like Canada. "
Lately, "we are beginning to witness a significant wave of Asian investors subscribe estate trade agreements across the country," says the report. "Several recent transactions have occurred when traditional national players were outbid by groups of Chinese investment ..."
In the Vancouver area, activity has increased significantly in the last 12-18 months Kuester informs Kirk, CEO of Colliers.
"There has been an immense amount of activity occurring in the city", especially along Oak and Cambie Streets.
"Tens of transactions are in the works," he says, and many agree already been done.
One particularly large acquisition cited by Colliers was a site of 232 acres of development in Port Moody, Imperial Oil by circle Group Investments Ltd., based in Shenzhen, China. The land, purchased in January, has been earmarked for a residential project.
This same company last year bought the Buschlen Mowatt building in West Georgia.
Previously, Chinese developers occupied residential product supply remained an emerging middle class in their own country in rapid urbanization.
But China's economy has slowed and the housing market is not overheated, says Colliers report.
In addition, Chinese restrictions on investing beyond mainland China have recently facilitated.
"The upper level business development of China, supported by insurance and capital pension funds, have won the approval of the Chinese government to seize opportunities globally."
As a result, capital outflows have grown since 2010, from $ 2.3 billion to $ 18.3 billion, with almost half the cash that reflects investments in centers like Manhattan, London and Sydney.
But Asian developers are also noticing "the Canadian economy is perceived as safe and stable". And I especially like the currency depreciated again here.
Chinese developers are looking specifically for the "development opportunities with a high residential component in major cities ... land is ready for development is a key motivation". Companies also seem to prefer large-scale projects.
Colliers calls the current wave of investment in China "experimental" but predicts, "there is a high probability that more will come in 2015."
The company says Canadian commercial real estate commercial property sellers who want to attract Chinese buyers should be prepared to explain the selling process here is direct about a sale price, sales material translated and enlist the help of a advisor based in Chinese operations.
Colliers has 27 offices in China. However, other realtors are also struggling to adapt to emerging market.
It is based on BC Macdonald Realty several months ago opened a Canadian Centre Real Estate Investment in Shanghai.
More than a third of single-family homes sold by the company in 2013 went to buyers who have links with China.
The Shanghai office is being launched by Dan Scarrow, VP of Corporate Strategy Macdonald, who told The Vancouver Sun last month that a presence abroad was necessary because "Chinese investors are becoming increasingly part our largest market in both the residential side and the business side. "
So far offshore buyers have been quite restrictive in their purchases of real estate, focusing on the residential sector.
They even stayed out of the multifamily real estate market, says David Goodman, director of the Office Real Estate Services, specializing in the sale of apartment buildings in the Vancouver area.
But the new interest in commercial real estate suggests that the Chinese can extend their reach. And if what has happened in the residential side of Vancouver is now about to happen on the commercial side, we had all better hang our hats.
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