Commercial Investor Report 2018 (Western Canada Edition)
The 2018 Commercial Investor Report is out!
This report sheds light on commercial real estate in Greater Vancouver, Kelowna, Edmonton, Calgary, Winnipeg, Regina, and Saskatoon.
- Both Kelowna and Edmonton are poised to become hot spots for Canada’s cannabis market post-legalization with competing cannabis enterprises looking for operating space in both cities.
- While Kelowna’s commercial real estate market saw an 8 per cent decrease in total sales value for commercial property types year over year, the city has identified more than 900 locations for retail spaces. It’s expected that the approval of licenses will be extremely competitive further driving prices up for the remainder of 2018 and beyond.
- Continued growth in Vancouver’s technology sector continues to drive demand for both office space and industrial space throughout the region. Investment by major companies like Amazon means that commercial space is going to remain a hot commodity and will ultimately increase supply over time.
- Calgary’s commercial real estate market is closely tied to the oil and gas sector. While the recent decision around the Trans Mountain pipeline project has tempered the market slightly, we expect the region to remain stable as we head into 2019, largely due to continued investment from technology companies. Overall, we are optimistic.
The full report can be found here.
It is also on REMAX.ca here.
If you have any questions about this year’s report, please contact:
RE/MAX of Western Canada