Canada is on the ’A-list’ for commercial real estate investors, in a world of uncertaintyMarch 6, 2017 7:26 pm
A new report suggests commercial real estate investors may shun America in favour of Canada because of a Trump effect that is generating concerns about the market south of the border.
“The level of uncertainty that we see globally is at an all-time high. I would include geopolitical uncertainty and economic uncertainty,” said Paul Morassutti, executive vice president and executive managing director for CBRE in Canada. “When you consider the most consequential economy on earth, the United States, we really don’t known at this point what type of foreign policy is coming out of the States, what type of trade policy. There has been no coherent economic strategy since the inauguration.”
CBRE said Canada is coming off a record-breaking year for commercial real estate transactions with $34.7 billion in property changing hands in 2016. It is forecasting investment activity to drop to $31.9 billion in 2017 but the real estate company says the demand from foreign buyers will not slow down.
Categorized in: Financial Post