So far, 128 major sales were made this year, with a total value of $995 million. Last year, the sales total was $389 million, with 80 sales closed.
The sharp increase places Ottawa in the upper echelon of cities with favourable commercial real estate markets. Ottawa’s 155% increase ranks second to Waterloo, Ont., where commercial sales are up by 254% since 2011.
Commercial sales across the country currently total $13.9 billion, a jump of more than 23% over last year’s sales figures.
Ottawa’s booming commercial sales market will likely encourage many investors to begin selling their properties. Although some investors might decide to hold on for now, others will choose to take advantage of the strong seller’s market.
CBRE, a Fortune 500 company and the largest commercial real estate firm in the world, says that investing within Canada is a highly attractive opportunity for them right now, especially given the problematic financial situation European markets are currently experiencing.
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