A real estate management firm, Morguard reported that the real estate market in Canada is still as appealing as it was to both domestic and foreign investors despite the uncertain state of the economy. The development of the multifamily sector in Canada is still an ongoing hot property for investors from outside the country, judging by the way things are going, it doesn’t look like it’s changing anytime soon.
The irony is that the improbability of the economy at large is one of the main propelling forces causing investors to be more interested in Canada.
Director of Research at Morguard, Keith Reading said; “The Brexit result, coupled with the belief that the U.S. had entered the late stages of its economic cycle, all drove foreign investment interests. Off-shore groups, with Chinese and European capital, looked to the Canadian property market as a relatively secure destination for their investments.”
It was stated in the report that “multi-suite residential is a popular choice for investors, and is expected to remain as such for the foreseeable future,” whereas the office market is “fragmented” with areas like Vancouver and Toronto doing extremely well, while other markets show weakness. The same issue is being experienced in the industrial areas with a majority of the market seeing gains, however, Edmonton and Calgary seems to be facing a downturn in the energy segment.