Report: Canada CRE Continues to Thrive

Canada’s commercial real estate growth is set to continue through the next year, according to Avison Young’s new report. The 2019 North America, Europe and Asia Commercial Real Estate Forecast reveals that factors such as historically low unemployment rates boosted the economy. For several months, the lack of an amicable trade deal with the U.S. was a destabilizing factor on many fronts, but the prospective United States-Mexico-Canada agreement is predicted to ease some of the concern.

Avison Young credits a strong 2017 and 2018 for the positive cycle in commercial real estate. It notes that competition for office space, especially in downtown markets, and a declining vacancy rate are a welcome result. The closure of some well-known retailers has put a damper on the mall and shopping center figures, but this sector is expected to rebound as investors are buoyed by the positive outlook of commercial real estate on the whole.