2017 to be landmark year for Canadian Commercial Real Estate
A robust economy and strong industry fundamentals continue to propel investment activity in the Canadian commercial property sector, according to Avison Young’s Fall 2017 Commercial Real Estate Investment Review (North America and Europe).
“With record amounts of capital still seeking a home, investors continue to find ways to buy into Canada’s finite investable commercial real estate sector,” Avison Young said in the report. “Investment activity is buoyed by a relatively healthy economy that is the envy of the G7 countries and a commercial property market that continues to see varying, but largely healthy, fundamentals across the country’s regions and asset classes.” In particular, Vancouver and Toronto stand tall as major hubs of commercial real estate activity. “Vancouver ($7.8 billion/41% share) outpaced Toronto ($6.5 billion/34% share), with investment proceeds surging 75% year-over-year as vendors sought to capitalize on strong demand and peak pricing,” the report noted. “With the exception of Ottawa (which saw investment activity plunge 57%), the remaining markets – Calgary, Edmonton and Montreal – all recorded increases year-over-year, and each exceeded the $1-billion mark.” Source: Mortgagebrokernews.ca for rest of article