Canadian real estate is changing fast, and office spaces aren’t escaping the impact. Commercial real estate giant Avison Young‘s latest report on Greater Toronto Area (GTA) office space reveals softening business demand. High priced office space is out, and traditionally “less desirable” space is in. The firm notes a major trend softening the blow—demand from […]
Commercial real estate has been in a bit of a rut and it looks like it’s not going to end as fast as some hope. Commercial real estate giant CBRE released its annual Tech 30 report. The firm’s assessment is these markets are in the middle of a contraction phase and have yet to stabilize. […]
Canada’s real estate boom is starting to slow down, with fewer new projects taking the first step. Statistics Canada (Stat Can) data shows the dollar value of building permits fell in May. After coming off of record highs, a decline should have been expected for the most part. The size of the fall was definitely […]
The price of a commercial lease in Canada is getting more expensive, unless it’s retail. Statistics Canada (Stat Can) data shows commercial rents increased in March. Gains were led by offices, and an industrial space boom. Retail was the only big loser, with prices taking a dive across the country. Canadian Commercial Rents Increase, But […]
Canadian companies have been scaling back on office space, reversing the pre-pandemic scramble that made it scarce. BMO senior economist Sal Guatieri looked at commercial office space in his latest note. The bank found long-term tenants locked into space are paying their bills just fine. However, companies that could, have been scaling back on the […]
Many Canadian retail stores closed, but households are still finding ways to spend. Statistics Canada (Stat Can) data shows retail spending made a big jump in February. The rise in sales was strong in the building materials and gardening categories. Combined, both of those trends represented nearly a third of all annual growth. The combination […]
The mystery of how Canada attracts so many big tech companies was revealed in a commercial real estate analysis. The country scored 5 spots on CBRE‘s 2020 list of Top 50 Tech Hubs. High-quality labor is one of the key reasons real estate prices haven’t been a drag. The other is Canadian tech workers make […]
The consensus is work-from-home is temporary, but real estate developers might not be so sure. Statistics Canada (Stat Can) data shows construction investment reached a high in January. The trend is driven by residential construction investment, which reached a new record. Non-residential construction showed minimal growth, and is now effectively negative in real terms. Canadian […]
Canada’s commercial rental market is split, and probably not how most would guess. Statistics Canada (Stat Can) data shows commercial rents are down in Q4 2020. A breakdown shows the decline is largely due to retail rents falling. Despite a broad adoption of work from home, office rents are still chugging to all-time highs. Retail […]
Brick and mortar small businesses have been forced shut, or face almost no traffic. Wage relief is being delivered, with the government covering up to 75% of payroll costs at impacted businesses. Subsidized wages help, but another very large expensive still needs to be considered – rent. Commercial rents have been soaring, and tenants, even […]
