Foreign investment could increase in Canada’s property market
The ability of foreign investors to put their money into Canada’s real estate has been strengthened by current economic conditions. With the loonie weakened against some other currencies and investors in sectors that have benefitted from the lower oil prices seeing their equities rise in value our property market looks increasingly attractive. However with property prices high in the hottest markets investors are diversifying. Reuters reports that Chinese investors who have already built residential property portfolios in areas like Vancouver are now looking at hotels, golf courses and wineries as potentially lucrative investments. David Goodman of HQ Commercial says that Chinese investors are also interested in property development more than ever with condos or mixed use projects among their plans.