Thursday, November 6, 2014

Western Canada to Drive Canadian Economy



Canada's economy is expected to continue to deliver stable, modest growth over the remainder of 2014 and into 2015. This is creating an ideal low-risk environment for real estate developers and investors.

Western Canada is continuing to drive the countries economy, led by Calgary, Edmonton and Vancouver. The 3 cities all ranked in the top 4 of the Real Estate Prospects Survey based on their commercial investment, development, and strength of the housing market.
Although Calgary is the strongest market in Canada, Vancouver is poised to lead economic growth for 2015. In the first half of 2014 Vancouver issued a record number of building permits, up 6.7% from the same period in 2013.

There has been a change in Canadians desired location to live. People prefer to live in more urbanized areas, closer to work and a more active lifestyle, as opposed to the more spacious suburbs. This change is triggering new office and commercial developments as well as opening doors to exploring mixed-use property opportunities.

1 comment:

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