Just printed in Business in Vancouver: “Foreign speculation hits Metro commercial real estate“
David Goodman of HQ Commercial, who specializes in the multi-family market, credits the record-high prices to a fire hose of investment funds from China switching from residential to commercial real estate.
“Relatively small in number yet with billions of dollars at their disposal, investor groups from China are leaving an indelible mark on local real estate,” Goodman said. “The vast new dollar flow pouring into Greater Vancouver is disrupting the local development and investor community. Locals either lose out or feverishly raise their bids to compete with the new kids on the block.”
And once again, the gap between what some of the players in the market are saying and what government leaders (looking at you, Minister of Finance) are saying gets a little wider.
