Following the U.S elections, Canada has attracted a lot of Americans fleeing from what they describe as a rigid Donald Trump presidency and the commercial real estate sector is anticipating future growth in the sector.
As more Americans flock into Canada, it will in turn increase on the demand for housing most especially in Toronto and Vancouver as both cities provides not only housing for people but also possible careers. According to the Allied Properties REIT chief executive officer Michael Emory, in the wake of Donald Trump’s victory, the leading Canadian housing markets are in to make great profits.
The prospect for the Canadian real estate market in the coming year is very promising as presently there is insufficiency of leasable office units in some markets, added Emory.
The was a noticeable increase in profits in Canada following the Brexit as it was claimed that Canada was a safe haven for many, hence it won’t come as a surprise if the same should happen after the U.S. elections. But all eyes are open to watch the events that will unfold in the next few months for America as nobody is really certain as to what to expect in the U.S.
The Toronto market has been a marvel for the last two years as many have termed it as a lucrative city for office property buyers in North America.
Emory also highlighted that from way back in the mid 1990s; Toronto and other inner cities have attracted people choosing to live, work and play. Many people opt to begin their careers in the city as opposed to other suburban areas.
With many people rushing to the city, it ignites the possibility of more accommodating choices for tenants.