The future of luxury real estate in Oakville will include a major push towards Chinese clients and potential investors from Hong Kong and China.
The demographic is such a strong area of growth that Oakville luxury real estate firm The Invidiata Team held a special showcase for 50 affluent Chinese clients to view luxury waterfront properties.
“The reality is the Chinese market is one of the most influencial market in the world,” Christopher Invidiata, the principal of the Invidiata Team, told YourMississaugaBiz.com of the second annual event. “And these people are looking to immigrate to Canada as a preferred country. So we’re accelerating the process by being proactive.”
Invidiata said the Best of Gold Coast real estate event required four months of planning. Specialty staff included Cantonese and Mandarin translators, an immigration consultant, a lawyer specializing in immigration and a representative from the Royal Bank of Canada.
The Invidiata Team has also incorporated a special page on its website with listings translated into Chinese and is traveling to Beijing to highlight luxury properties in Mississauga, Oakville and Burlington at the Luxury Property Showcase on May 31.
After his 28 years of research and experience in the business, Invidiata has determined Chinese buyers prefer new properties over older, renovated homes. “Finding a house for their second home is more important than a condo,” he said. “Finding a condo is more for their kids and more for investment.”
While this year there were more local Chinese investors, Best of Gold Coast event attendees also included individuals flown in from oversees and past Invidiata clients.
Most importantly, the event built upon the firm’s sponsorship of Chinese student council at the University of Toronto Mississauga. “A lot of the family members were [visiting],” Invidiata said. “The students are all graduating now so they’re here locally from China.”
Invidiata said the educational commitment for multiple years often builds understanding and a love of the local community, leading to a long-term desire for post-graduate residency.
With the affluent nature of the group, Invidiata and his team of seven showed off luxury waterfront projects in Oakville like the Edgemere condominiums and Edgewater, a 16-lot subdivision. The event was also hosted at a home estimated to be worth $5 million
The company’s efforts and research into the event already seems to have paid off. A few short days after the event, Invidiata said he’s already seeing the fruit of his work.