Commercial Real Estate Markets To Watch For In 2018 (Part I)
With the Canadian economy picking up just in time for the new year, the real estate market is looking very promising for all new and established investors. In fact, according to the Conference Board of Canada (CBOC), the Canadian market is expected to see up to a 2.3% growth rate in certain regions of Western Canada this upcoming year.
In the real estate market, new trends emerge and the outlook in regional real estate markets change every year. As a reputable commercial real estate management company, our goal is to help our partners understand which markets are worth investing in, come 2018. From small shifts in a location’s demographic, to more noticeable changes within the economy, the real estate industry is susceptible to these changes and must adapt accordingly.
Discover which cities in Western Canada investors should keep their eyes on this 2018:
Regions to Watch For In Western Canada
A recent study of the real estate market performed by the CBoC showed that survey respondents ranked Calgary as a top market to watch out for in Canada as the new year hits. While the GDP was forecast to grow 2.3% in 2017, according to the most recent market review, the region is expected to continue growing up to 2.2% more in 2018. For new and existing real estate industry players who have been biding their time, these numbers are great news.
Over the past couple years, the Federal and Alberta governments have been focused on jumpstarting the local economy in the region. As a result, the return of growth is welcomed by industry players all around the world. For those overseas who are looking to invest, you can rest assured knowing that foreign real estate investment in Calgary and Alberta has never been an issue.
Thanks to the ever increasing prices of oil these past couple of years, Edmonton has been able to come out of its recession and return to growth. While the city’s economy was poised to grow 2.4% in 2017 alone, the CBoC now predicts that the economy will expand another 2.2% in 2018. According to survey respondents, Edmonton is now the 7th best market to watch out for in Canada for investment prospects in 2018.
The Saskatoon real estate market appears to be stabilizing itself it 2018 as the city continues to progressively recover from its economic slump. According to the CBoC, the Saskatoon economy was predicted to rise 1.7% in 2017 and is now estimated to grow another 2.3% in 2018 which means that the city can expect favourable real estate growth over the next couple of years. In fact, the Saskatoon market is forecasted to outperform most Western Canadian cities in the future, making it the perfect place to begin investing.
At ReDev, we understand making long-term investments in commercial properties located in Western Canada is no easy task. As an experienced commercial real estate asset management company, we have the knowledge to help clients manage and develop their investments.
Partner With ReDev Properties
Not sure which region to invest in? ReDev Properties Ltd. is a Canadian real estate asset management company which has managed over 2.5 billion dollars in real estate assets since 2001. At ReDev, our management team takes a hands-on approach to help global partners invest in the commercial real estate market throughout Canada’s most promising regions. In addition to discussing your options with you, we are committed to providing our partners with both the resources and expertise for succeeding in the market.
Contact our management team today to learn how ReDev Properties can help diversify your portfolio and maximize your investment profits in 2018. Simply give us a call to start discussing your options.