Commercial Investor Report 2016 – Western Canada Edition

Under Information for Buyers, Information for Sellers, Market Update, Market Updates, State of the Market, Valuable Links


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Written on October 4th, 2016

Much of Western Canada continued to experience slower market activity in the first half of the year, as regional economies continued to recover from the downturn in the oil sector.

However, in B.C.’s Lower Mainland, activity was brisk and prices continued to increase significantly in the commercial property market.

“Demand for commercial property in the Vancouver area remains very high and continues to be driven mainly by local investors,” said Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada.

“Over the next several months, we may start to see more interest from foreign investors. As a result of the recent foreign buyer tax on residential properties, buyers who are interested in investing in Greater Vancouver may start to shift their focus to commercial properties.”

The commercial real estate markets in Calgary and Edmonton continued to feel the impact of lower oil prices.

“There continues to be demand for good quality product in the Calgary and Edmonton markets, though a full recovery is not expected until oil prices rebound,” said Ash.

“For investors, there will likely be some good opportunities coming on the market later this year and next year as owners start to sell off assets.”

The markets in Saskatoon and Regina have remained fairly active despite a somewhat softer market caused by the downturn in the resource sector. In both cities, the first half of 2016 saw increased investor interest from Real Estate Investment Trusts (REITs).

In Winnipeg, demand for commercial properties has continued to outpace supply.

Be sure to download the full report below!

http://blog.remax.ca/wp-content/uploads/2016/09/REMAX_Commercial_Investor_Report.pdf#RL222222

 

 

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