A new chapter of The Asian Real Estate Association of America (AREAA) launched in Toronto recently.
Founded in 2003, AAREA is a professional trade organization “dedicated to promoting sustainable ownership opportunities in Asian American communities by creating a powerful national voice for the housing and real estate professionals that serve this dynamic market,” says the association. Toronto is the second Canadian chapter – there has been an active Vancouver chapter for several years.
Cynthia Lai of Global Link Realty Group is the inaugural president of the Toronto Chapter. Garry Bhaura of Century 21 President Realty and Richard Silver of Sotheby’s International Realty are vice-presidents.
The association says Toronto has a long history of cultural diversity in terms of immigration but has been experiencing “a meteoric rise on the international real estate scene, particularly with investors from Asia. Asian investors… are seeking to diversify their holdings by funneling capital into Greater Toronto real estate.”
The new group is comprised of Realtors, lenders, financial planners, builders and developers. Membership includes housing and real estate professionals of all cultural backgrounds and is open to those who support the mission of increasing sustainable homeownership in the Asian community, the association says.
AREAA Greater Toronto members will be attending the 2015 Global & Luxury Summit in Chicago from April 19-21 to promote Toronto.
