Canadian Housing Growth is Fueling Retail Property Investments
In the most recent rounds of statistics, the Canadian housing market appears to be in far better shape than experts previously predicted. The current buoyant Canadian housing sector is being credited for fueling the also booming retail property investment sector. With data suggesting the market will only continue to grow at a steady, sustainable pace, it’s becoming easier to start investing in commercial real estate than ever before.
Fueled by strong on-going immigration numbers and the increase in wages and job growth, Canadian home equity, net worth and consumer confidence is on the rise. Along with these positive overflows, so are home prices. Take the province of Alberta as an example, despite a recent surge of permits, single and multi-family home builders are still having difficulty keeping up with marketplace demands. As a result, local apartment rents are up 5.5 percent. This all-round positive growth in turn results in increase of consumer spending. In particular, local shopping plazas, restaurants and home-renovation stores are reaping the benefits.
Want to learn more about Richard Crenian?