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Chinese now the leading foreign buyers of Canada’s commercial properties

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Latest figures from real estate giant CBRE Ltd. revealed that Chinese buyers purchased approximately $1.3 billion worth of Canadian commercial real estate in the first half of 2016 alone.
 
This has made Chinese the undisputed leading foreign buyers of commercial properties in Canada, representing approximately 65.4 per cent of the deals across the country in the same six-month timeframe, CBC News reported.
 
The most significant purchase was by the mainland-based Anbang Group, which bought the Bentall Centre in Vancouver for over $1 billion. Anbang also acquired the the Waldorf Astoria in New York City two years ago.
 
CBRE explained that finding a safe haven for capital is the main motivation among China’s state-owned firms for snapping up Canadian properties. The firm added that a low Canadian dollar and greater post-Brexit uncertainty would make Canada more attractive for Chinese investors over the next year.
 
Asian and European investors have come to the commercial property investment forefront in Canada in recent years, although the CBRE emphasized that no correlation exists between this development and the similarly increased prominence of foreign nationals in the Canadian housing sector.
 

About the Author

Ephraim is currently a journalist at Mortgage Broker News, Real Estate Professional and Canadian Real Estate Wealth. Ephraim is a highly accomplished news reporter whose work has been published across North America and the Asia Pacific region. Before joining Key Media, Ephraim spent eight years working as a journalist with Reuters TV. His areas of expertise include real estate, mortgage, and finance. LinkedIn | Email  

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