The Hongcouver | ‘Crowdfunders’ are targeting Vancouver real estate, tapping investors in Chinese community
Projects linked to the ambitious new firms and their offshoots include a C$185m three-hectare industrial site, as well as golf courses in Vancouver and the Okanagan
Vancouver’s already red-hot real estate market has been targeted by “crowdfunding” firms, hoping to create syndicates of investors drawn from the city’s Chinese community to buy properties worth tens of millions of dollars.
At least two such companies, Suncrowdfunding Holdings and Canada Luxmore Crowdfunding, have recently emerged in Vancouver, the South China Morning Post has found.
These rules should preclude all but the tiniest of forays into Vancouver’s property scene.
But proposed purchases linked to the two firms and their related companies over the past year range from golf courses to the pending sale of the Molson Coors factory site in Kitsilano for a rumoured C$185 million.