The red hot housing market of Vancouver finally had some cold water thrown on it as new figures from the Real Estate Board of Greater Vancouver (REBGV) show home sales fell nearly 23 percent last month. The government in British… Read More>>
China’s SOEs Push Aside HK Tycoons and More Asia Real Estate Headlines
The four families that control much of Hong Kong’s property market could soon be pushed aside by faceless mainland conglomerates as a buying spree by state-run enterprises continues to reshape the Asian financial hub. In other news, Wanda boss Wang… Read More>>
Fosun Said Bidding to Take Over AC Milan and More Asia Real Estate Headlines
Guo Guangchang’s Fosun, one of China’s biggest property investors, is expanding its portfolio into sports teams, as the Shanghai-based firm is said to be seeking to acquire AC Milan, after buying the UK’s Wolverhampton football team last month. Also in… Read More>>
Fosun Preparing to Sell $6B in Assets and More Asia Real Estate Headlines
One of China’s biggest cross-border investors says it may try some divestment, although Guo Guangchang’s Fosun isn’t yet saying what assets it might put on the block. Also in the news today, Vancouver is already feeling the impact of a… Read More>>
Canada Slaps Tax of Up to 20% on Foreigners Buying Vancouver Homes
Canadian authorities have slapped a tax of up to 20 percent on overseas buyers purchasing homes in Greater Vancouver. The move by the British Columbia authorities comes amidst growing public outcry over runaway housing prices perceived to be fuelled largely… Read More>>
Citic Bank Sues to Seize $5.6M in Vancouver Luxury Homes From Chinese Fugitive
China CITIC Bank Corp, the banking arm of one of the mainland’s largest state-owned investment conglomerates, has filed a lawsuit in Canada to seize real estate assets in Vancouver worth C$7.3 million (US$5.58 million) from a businessman accused of fleeing… Read More>>
Anbang Seen Facing Regulatory Headwinds and More Greater China Real Estate Headlines
More trouble could be in the works for China’s most flamboyant insurance company, as regulators are said to be taking a closer look at Anbang. Plus, Vancouver could start taxing empty homes and more mall developers hope to go “asset-light”… Read More>>
Xinhua Cites Spectre of Money Laundering After Chinese Student Buys $24M Vancouver Mansion
The growing wave of overseas property purchases by Chinese nationals could fuel money laundering, Chinese state media has warned, after it emerged recently that a Chinese student reportedly bought a C$31 million ($23.5 million) mansion in Canada.
In an unusually… Read More>>
How Chinese Crowdfunders Flipped Rundown Vancouver Apartments for $54M in 7,200 Seconds
An unlicensed realtor wheeling and dealing through Facebook. A stampede of investors frantically buying up dubious assets. And a city’s property markets pushed to the breaking point by a flood of Chinese buyers. All of these elements sound like a… Read More>>
Anbang Insurance Grabs Controlling Stake in $730M Vancouver Complex
China’s Anbang Insurance, which made its name by purchasing New York’s best-known hotel, is now said to be acquiring one of Vancouver’s most famous landmarks in a transaction which would value the property at more than C$1 billion ($729 million).