Chinese Real-Estate Investors Wary of Vancouver Head to Toronto
- Asian buying of commercial property in Vancouver fell in 2018
- CBRE is shifting focus to bringing Asian investors to Toronto
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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.
Asian investments in Vancouver fell to almost C$350 million ($260 million) in 2018, a drop from the C$1 billion-plus that hit the market in each of the two prior years, according to data from CBRE Ltd. In contrast, Toronto took in C$526 million of Asian investment last year, up slightly from 2017, including a C$256 million purchase of an office building by Chinese private investor Tigra Vista Inc.