Century 21 Predicts Further Increases In Canadian Real Estate Invesments

Chinese investors remain very active as far as foreign investment in Canadian markets is concerned and there are no signs of that changing in the foreseeable future according to well-reputed industry insiders.

Randy Ramdhin of century 21 stated that the CEO of Juwai.com Charles Pittar is optimistic about the continued growth of Chinese investments in the Canadian housing market.

“In total last year, Chinese buyers made inquiries to property sellers like agents and developers worth US$14.9 billion. Not every one of those would have converted into a sale, but the number does give a sense of the Chinese interest,” he said.

“Toronto is the most popular Canadian city for Chinese buyers, although I think sometimes Vancouver feels like it is the leader,” Pittar added.

Apart from the leading hotspots of Toronto and Vancouver, other cities are likely to benefit from this Chinese interest in Canadian Real Estate.

Pittar went on to argue that “we see buyer interest spreading across the country. The traditional gateways are still important destinations for buyers and immigrants, but the rapid growth of buyer interest in Montreal shows that the city is succeeding in attracting some of this investment.”

In conclusion, Pittar round things up by saying

“ Barring any big changes in the environment, we expect Chinese investment in Canadian real estate to increase in 2016, and the impacts of that investment to spread more widely as these buyers move into new markets.”