Mature Chinese investors take quantum leap into foreign real estate原文 20140404-446

A “quantum leap” into foreign real estate by mainland Chinese investors is expected this year and three recent British Columbia sales show it may include a dive into British Columbia recreational real estate.

Since January, buyers from mainland China have bought the Sechelt Golf and Country Club on the Sunshine Coast north of Vancouver for a price that remains undisclosed, a 43-acre island off the southern B.C. coast for $2.5 million and a riverfront equestrian centre in Langley for $5.5 million. Late last year, a Chinese travel company bought a downtown commercial lot in Nanaimo where it plans to build a $50 million hotel that will cater to Chinese tourists.

“It had been rare to see m ainland China buyers purchasing recreational property in B.C,” said Mark Lester, senior vice-president of Jones Lang LaSalle Real Estate Ltd. (JLL). Lester, who chaired a recent Vancouver panel discussion on Asian real estate investment in Canada, believes the recent moves into recreational property reflect a “maturing” of China investors. “[They] have moved beyond houses on Vancouver’s West Side and Richmond.”

A study of outward-bound Chinese investors by Colliers International also forecasts a greater diversity in foreign locations and property sectors this year.

"Besides increasing global liquidity, the volume of outbound investments from Asia is being driven by both 'pull' and 'push' factors," explains Piers Brunner, CEO, Asia at Colliers International. Brunner said buyers are being “pushed” by new and tougher Hong Kong and China regulations on real estate investing and “pulled” by the potential of higher returns in foreign markets.

"Chinese outbound property investments beyond Asia really took off in 2009, and reached US$9 billion in 2013. We believe more Chinese developers will look overseas to support the needs of their local clientele," added Terence Tang, managing director of capital markets and investment services, Asia, at Colliers International’s S hanghai office. "We think the world's 'gateway' cities will see a quantum leap in real estate purchases by Chinese buyers in 2014."

JLL is forecasting total offshore real estate investments by China investors at $15 billion in 2014 and this does not include individuals purchasing homes or small commercial holdings, according to JLL’s Vancouver office.

Vancouver-based Lucy Fletcher, JLL vice-president, international capital group, said her office is seeing Chinese investor groups “on a daily basis” but added most of these want to keep their developments closely held.

“They are not really interested in typical 50-50 joint ventures,”she said. “They prefer a 90-10 or 70-30 venture with local developers.”

Fletcher said Vancouver is hampered only by a lack of land. China’s development investors are looking for greenfield sites of at least 15 acres, she said, “which are hard to find in Metro Vancouver.”

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