Canada-China realty professional association caters to growing demand from Chinese Canadians
It’s no secret that buyers from all over the world are attracted to real estate opportunities in the Greater Toronto Area. Chinese Canadians, in particular, are showing a strong appetite for homes and investments in the GTA, and the Canada-China Realty Professional Association (CCRPA) is building a collection of services to offer these influential clients. Steven Sun, president of the CCRPA, explains what the organization offers – including the upcoming Real Home Expo 2019, Oct. 5 and 6 at Le Parc Banquet & Conference Centre in Richmond Hill.
HOMES Magazine: Real Home Expo, with co-organizer Jade Expo, is the largest home show in Canada that caters to the Chinese Canadian community. What does the event offer these prospective homebuyers?
Steven Sun: Based on our past successes, we have upgraded the scale of the event this year and are happy to welcome well-known companies such as Times Group, Sotheby’s International Realty, Reliance Home Comfort, Menkes Developments, Tridel, Kingdom Developments, Z Square Group, CoStone Group, Gemterra Developments, CIM Development, Foxwood Developments, Woodside Group and others. More and more real estate development companies are recognizing the potential purchasing power of the Chinese community. We are pleased to be the platform for these well-established developers to conduct business within.
We have also introduced a “HomeMania Festival” to bring special discount offers for homebuyers and homeowners. Ethan Allen, Reliance Home Comfort, PageOne Furniture & Lighting and others will be offering exclusive deals for attendees.
HM: Beyond a strong exhibitor lineup, what’s in the event for attendees and prospective homebuyers?
Sun: Real Home Expo fills in gaps in real estate and home exhibition in the northern GTA. It is recognized by the governments of Canada and China, being the largest local Chinese real estate and home exhibition and sales platform, catering to northern GTA residents who are well known by their purchasing power and high living standard. Prospective homebuyers can meet professionals to help them purchase a new home, renovate an existing property, furnish their home space inside and out, and provide the day-to-day services.
HM: How else does the association help homebuyers, on an ongoing basis, after the Expo?
Sun: We are the largest Chinese real estate organization in Canada, with more than 8,000 realtors, developers, builders, financial reps and service providers. We provide our clients and attendees with professional knowledge, services and advice during and after the exhibition.
We also plan to host a number of seminars and real estate related events over the next few months, to provide guidance to clients and homebuyers on every single step in the home purchasing process.
HM: What areas of the GTA do Chinese Canadians, or newcomers to Toronto from China, find especially appealing?
Sun: Downtown and midtown Toronto for are popular for condos, while in North York, they look for both high- and lowrise properties. York Region areas such as Markham, Richmond Hill and Vaughan are the hottest and the most popular areas for Chinese homebuyers and investors.
HM: What housing types are they looking for most? Lowrise homes to live in? Condos as investment properties?
Sun: Most commonly, lowrise as a primary home and condos as investments. However, since the introduction of foreign buyer taxes, many are looking at businesses and commercial opportunities such as plazas, apartment buildings, farms, vineyards and cottages. Some of the biggest vineyards in the Niagara area are now owned by Chinese immigrants. Plus, a great number of Chinese immigrants are investing in GTA new condo projects.
HM: How is the CCRPA growing? For example, a couple of Chinese developers have recently launched projects in Toronto. Are you actively involved in this… trying to encourage such activity and acting as a liaison for Chinese background developers?
Sun: Yes. Most of the active real estate developers are among our board of directors. We are their business partner in promoting their condo projects and lowrise community developments. Our 8,000 realty professionals use their connections to spread these homebuying and investment opportunities within the GTA and Vancouver communities. Our prospective clients are given first-hand information and exclusive offers.