A report from real estate management firm Morguard says that domestic and foreign investors still view Canadian real estate as attractive despite some economic uncertainty.
In fact, uncertainty in the global economy is one of the drivers of investors’ interest in Canada.
"The Brexit result, coupled with the belief that the U.S. had entered the late stages of its economic cycle, all drove foreign investment interests," said Keith Reading, Director of Research at Morguard. "Off-shore groups, with Chinese and European capital, looked to the Canadian property market as a relatively secure destination for their investments."
The report says that “multi-suite residential is a popular choice for investors, and is expected to remain as such for the foreseeable future” while the office market is “fragmented” with strong performance in Vancouver and Toronto but weakness in other markets.
There is a similar situation in the industrial sector with most markets showing gains but Edmonton and Calgary suffering from the downturn in the energy sector.
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Canada’s multifamily developments are currently hot property for foreign investors and it doesn’t look like changing soon.