Chinese real estate investment slowdown likely short-lived | Vancouver Sun

The Chinese government crackdown on capital flight from that country has combined with the 15 per cent foreign buyers’ tax on residential properties to dampen buyer demand in Vancouver’s sizzling real estate market.

But two senior executives at Macdonald Commercial, a real estate brokerage firm that monitors Chinese investment in Canada, say that the Chinese real estate investment slowdown will likely be a short-term trend.

“My sense is that it’s more of a struggle for Chinese investors to send funds from China now, but we are still seeing some significant income and land deals being done in Metro Vancouver,” says Tony Letvinchuk, managing director of Macdonald Commercial.

As an example of China’s abiding interest in our region, China Minsheng Investment Group recently purchased Grouse Mountain ski resort for an estimated $200 million. An unidentified banker said that Minsheng had been searching for a year throughout Canada for investments.

As well, several other significant state-related Chinese companies have set up shop in the city over the past year and are quietly buying up real estate around the province, despite the official policy, says Dan Scarrow, head of the Canadian Real Estate Investment Centre and Macdonald Commercial’s representative office in Shanghai.

Chinese foreign investment outflows — which have fallen from nearly $1 trillion in 2016 to $126 billion so far in 2017 — will continue to play a key role in Vancouver real estate in the long term, he said.

He noted that despite attempts to control capital flight, the Chinese government is simultaneously nudging the country into economic superpower status, a process which necessarily involves diversification of global investment over the long-run.

[Read more…]

Chinese real estate investment slowdown likely short-lived | Vancouver Sun

The Chinese government crackdown on capital flight from that country has combined with the 15 per cent foreign buyers’ tax on residential properties to dampen buyer demand in Vancouver’s sizzling real estate market.

But two senior executives at Macdonald Commercial, a real estate brokerage firm that monitors Chinese investment in Canada, say that the Chinese real estate investment slowdown will likely be a short-term trend.

“My sense is that it’s more of a struggle for Chinese investors to send funds from China now, but we are still seeing some significant income and land deals being done in Metro Vancouver,” says Tony Letvinchuk, managing director of Macdonald Commercial.

As an example of China’s abiding interest in our region, China Minsheng Investment Group recently purchased Grouse Mountain ski resort for an estimated $200 million. An unidentified banker said that Minsheng had been searching for a year throughout Canada for investments.

As well, several other significant state-related Chinese companies have set up shop in the city over the past year and are quietly buying up real estate around the province, despite the official policy, says Dan Scarrow, head of the Canadian Real Estate Investment Centre and Macdonald Commercial’s representative office in Shanghai.

Chinese foreign investment outflows — which have fallen from nearly $1 trillion in 2016 to $126 billion so far in 2017 — will continue to play a key role in Vancouver real estate in the long term, he said.

He noted that despite attempts to control capital flight, the Chinese government is simultaneously nudging the country into economic superpower status, a process which necessarily involves diversification of global investment over the long-run.

In addition, attempts by the municipal and provincial governments to cool down demand for capital flow into Canadian real estate are being counteracted by Ottawa’s continued expansion of immigration (increased to 300,000 annually), tourist (1.4 million 10-year visas issued to Chinese nationals since 2014), and foreign-student (over 300,000 with one-third from mainland China) access to Canada.

On top of that, a critical mass of 70,000 well-heeled mainland Chinese immigrant families in Vancouver will continue to pull in seemingly endless Chinese capital to the region, he said.

“Money eventually gets to where it wants to go, despite policy efforts to the contrary,” said Scarrow.

Adds Letvinchuk, “There are so many reasons we are an attractive real estate investment destination for global capital and that’s not going to change anytime soon; and with an abundance of local equity, the commercial property sector will remain very strong.”

Founded in 1944 in Vancouver, Macdonald Commercial is the commercial investment arm of Macdonald Real Estate Group, which employs more than 1,000 people in over a dozen real estate offices across British Columbia and opened its Shanghai office in 2014.  Last year, sales volume exceeded $8.9 billion while assets under administration grew to over $5 billion.


 

This story was created by Content Works, Postmedia’s commercial content division, on behalf of Macdonald Commercial. The article was originally posted on vancouversun.com October 25, 2017. Written by Michael Bernard.

Greater Vancouver Real Estate Market Statistics – September 2017

Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in September 2017.

Vancouver

In the Vancouver Westside, there were 74 sales of detached homes and 871 active listings at the end of the month. The benchmark sale price was $3,653,500, with an average days on market of 59. The hottest market for sales was Dunbar with 12 sales.

In comparison, the condo market had 403 sales, 757 active listings and a benchmark sale price of $796,100 with an average of 26 days on market. The hottest market for sales was Downtown VW, 96 sales.

Townhome sales were 58, active listings were 129. The benchmark sale price was $1,265,100 with an average days on market of 29. Fairview VW and Kitsliano with 12 sales each were the hottest markets of the month.

It’s a seller’s market for condos and townhomes.

MarketHotSheet_September2017_VanWest

[Read more…]

Squamish, Whistler and Sunshine Coast Real Estate Market Statistics – September 2017

Here are the latest real estate market statistics from Macdonald Realty on Squamish, Whistler, and Sunshine Coast listings and sales in September 2017.

Squamish

In September 2017, there were 12 sales of detached homes and 127 active listings in Squamish. The benchmark sale price was $994,700 with an average days on market of 83.

The Condo market had 17 sales and 19 active listings at the end of the month.  The benchmark sale price was $466,700 with an average days on market of 38.

Townhome sales were 22, active listings were 32. The benchmark sale price was $804,800, and the average days on market were 24.

It’s a seller’s market for condos and townhomes.

MarketHotSheet_September2017_Squamish

[Read more…]

300 Macdonald Realty agents gather for annual conference

VANCOUVER, B.C., Canada – (October 2, 2016) – Macdonald Realty hosted 300 of their top real estate agents from around BC at their annual Agent Conference at the Hilton Vancouver Metrotown in Burnaby. The keynote speakers were Lindsey Smith and Kirsten Faverin of CIR Realty in Calgary who presented 6 Ways to Transcend the Transaction and build life-long client relationships. CIR Realty, alongside Macdonald Realty, are members of Leading Real Estate Companies of the World® (LeadingRE), a global network of more than 500 high quality independent real estate firms. Bryan Yu of Central 1 Credit Union provided an economic forecast with special attention paid to the Greater Vancouver, Victoria and Kelowna markets. Our CEO and President, Lynn Hsu opened the morning session with highlights of the future of the brokerage and the upcoming changes and new offering for our real estate advisors in the upcoming year and a memorable speech on the quality of advisors we currently have in our roster.

The day also included break out sessions on commercial real estate trends, how property management changes impact investor clients, an explanation of the proposed changes to dual agency by our managing broker panel, and actionable social media tips for the busy Realtor.

The conference was attended by both residential agents and commercial brokers from Macdonald Realty’s 20 offices across BC including Kelowna, Victoria, Parksville, Squamish and from around the lower mainland.  To join our real estate team and take part future Macdonald Realty learning events, visit www.careersinvancouverrealestate.com

 

About Macdonald Real Estate Group
Based in Vancouver, Canada, Macdonald Real Estate Group (MREG) has an annual sales volume of $8.9 billion and over $2 billion in assets under management.  With 20 offices and nearly 1,000 staff and REALTORS®, MREG offers a full range of real estate services, including residential and commercial brokerage, property and strata management, project marketing, and the MREG Canadian Real Estate Investment Centre in Shanghai, China.  Macdonald Realty is the residential division of Macdonald Real Estate Group. For more information, visit www.macrealty.com.

Okanagan Real Estate Market Statistics – September 2017

Here are the latest real estate market statistics from Macdonald Realty on Okanagan listings and sales in September 2017.

Central Okanagan: Kelowna and Lake Country

There were 193 sales, 961 active listings, and a $710,578 average sale price for detached homes in the Central Okanagan market, including Kelowna and Lake Country. The average days on market were 49.

The condo market featured 127 sales and 354 active listings at the end of the month. The average sale price was $323,493 with 58 average days on market.

Townhome sales were 76, active listings were 242, average sale price was $468,617, and the average days on market were 49.

MarketHotSheet_September2017_CentralOkanagan

[Read more…]

North Delta, Surrey, Langley and Fraser Valley Real Estate Market Statistics – September 2017

Here are the latest real estate market statistics from Macdonald Realty on North Delta, Surrey, White Rock, Langley, and Fraser Valley listings and sales in September 2017.

North Delta

In the North Delta market, the benchmark sale price was $922,100 for detached homes. At the end of the month, there were 161 active listings and 44 sales.

The condo market had 11 sales and 23 active listings. The benchmark sale price was $333,100.

Townhomes featured 10 sales, 18 active listings and a $574,600 benchmark sale price.

It’s a seller’s market for all product types.

MarketHotSheet_September2017_NDelta

[Read more…]

Greater Victoria, Parksville and Nanaimo Real Estate Market Statistics – September 2017

Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Parksville/Qualicum, and Nanaimo listings and sales in September 2017.

Greater Victoria

In September 2017, there were 259 sales of single family homes and 647 active listings in the Greater Victoria. The benchmark sale price was $692,800 with an average days on market of 33. The hottest market for sales was Sannich East with 63 sales. There were also 18 sales and 122 active listings at the end of the month for waterfront homes.

In comparison, the Condo market had 214 sales, 322 active listings at the end of the month.  The benchmark sale price was $436,800 with an average days on market of 25. The hottest market for sales was Victoria, 92 sales.

Townhome sales were 57, active listings were 111 and the benchmark sale price was $555,200. The average days on market were 27, and the hottest market was Saanich East with 15 sales.

It’s a seller’s market in Victoria.

MarketHotSheet_September2017_Victoria

[Read more…]