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Demand Expected to Keep Availability Near Record Lows Across Much of Canada's Commercial Real Estate Market: Morguard
Demand Expected to Keep Availability Near Record Lows Across Much of Canada's Commercial R...
About this update from Morguard Corporation
[{"type":"text","content":"\n\n\n\nDemand Expected to Keep Availability Near Record Lows Across Much of Canada's Commercial Real Estate Market: Morguard\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMISSISSAUGA, ON, April 25, 2019\n\n\n\nHealthy demand patterns across residential and commercial real estate boosting investor confidence\nCanadian Economic Outlook & Market FundamentalsFirst Quarter Update 2019\n MISSISSAUGA, ON, April 25, 2019 /CNW/ - Positive momentum and strong interest in the multi-suite residential, industrial and office asset classes continued into the first quarter of 2019, according to the latest Research Report issued by Morguard Corporation (\"Morguard\") (TSX: MRC).\n\"The performance of multi-suite residential, industrial and office sectors have kept them as favourites of investors,\" said Keith Reading, Director of Research at Morguard. \"Uncertainty and volatility in global economic dynamics seem to have had little impact on the Canadian commercial real estate business. A sustained momentum from the end of 2018 has kept the investment community confident that these markets continue to represent a relatively safe investment option.\"\nThe movement of retirees from single-family homes to the rental market, combined with international migration patterns, has resulted in significant demand pressure for multi-suite residential rentals. Combined with availability rates across the market projecting to hold at or near record lows, rent rates are expected to be driven beyond the all-time highs.\nA similar lack of availability will continue to affect the office leasing market as national vacancy came to rest at 11.5 per cent at the end of March of 2019, down 40 bps quarter-over-quarter and 100 bps year-over-year. The downward vacancy trend was most evidenced in the downtown areas of Montreal and Vancouver, while in Toronto vacancy rested at an all-time low of 2.6 per cent. As rents continue to stand at the cycle-highs, investment confidence in the market continued with 16.0 million square feet of new supply in development, ...