starts to benefit from the surge in the tech industry, commercial landlords are seeing increased demand for innovative space for these creative firms.
Tristan Spark of Colliers Victoria told the Times Colonist
that the techies are the bright spot in the commercial market with many taking up space vacated by the downsizing provincial government.
Figures from real estate firm DTZ Victoria show that there is little improvement in unoccupied space though which has stayed at around 7.8 million for eight years.
The firm’s Randy Holt noted that Victoria
's tech sector has been an important force in avoiding the amount of empty space growing.
The agents say there is disconnect though between the needs of the sector and the way that landlords generally work. The tech firms want flexible terms while property owners want 5 to 10 year leases.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Investment Hot Spots:
Athabasca, Saskatchewan Beach, Saint-Cléophas-de-Brandon, Choiceland, Belmont and Methuen