{"id":10952,"date":"2018-11-30T10:10:42","date_gmt":"2018-11-30T18:10:42","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=10952"},"modified":"2018-11-23T08:40:15","modified_gmt":"2018-11-23T16:40:15","slug":"record-investment-in-commercial-real-estate-will-continue-in-2019","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/11\/record-investment-in-commercial-real-estate-will-continue-in-2019\/","title":{"rendered":"Record Investment in Commercial Real Estate will Continue in 2019"},"content":{"rendered":"<p style=\"text-align: justify;\">Investment in Canada\u2019s commercial real estate sector has been strong all year and\u2014especially in the cases of Toronto and Vancouver\u2014should continue well through 2019.<\/p>\n<p style=\"text-align: justify;\">According to a report by Morguard, titled The 2019 Canadian Economic Outlook and Market Fundamental Report, 2018 is shaping up to be a record year for investment in the sector.<\/p>\n<p style=\"text-align: justify;\">\u201cIt\u2019s a real struggle both in Vancouver and Toronto to find office space,\u201d said Keith Reading, Morguard\u2019s director of research and the author of the report. \u201cChoices are very limited for 10,000-plus square feet and rents are at peak for this cycle. There\u2019s no shortage of capital, which is just a function of supply, and 2018 being a record year for investment will continue into 2019.\u201d<\/p>\n<p style=\"text-align: justify;\">Toronto and Vancouver have buoyant economies and the technology sector in both cities is firmly rooted. According to CBRE, Toronto ranks fourth in North America for growth and employment in the tech sector.<\/p>\n<p style=\"text-align: justify;\">While Vancouver is experiencing growth in that sector too, the exorbitant cost of living coupled with parsimonious salaries could pose a problem.<\/p>\n<p style=\"text-align: justify;\">\u201cVancouver has always had a unique situation in that the cost of living of living here is extremely high, higher than anywhere else in Canada,\u201d said Rene Palsenbarg, Marcus &amp; Millichap\u2019s regional manager and managing broker. \u201cWhen you look at salaries in the tech sector, or any sector, they\u2019re working on national averages and there\u2019s a skew in the spread of what an adequate salary would be and the cost of living here in Vancouver.<\/p>\n<p style=\"text-align: justify;\">\u201cTech companies coming to Vancouver really have to analyze the cost of bringing employees on and the benefit packages, because if they don\u2019t they\u2019ll lose talent to some of the other cities in Canada and the United States.\u201d<\/p>\n<p style=\"text-align: justify;\">However, it\u2019s far more likely salaries will rise than Vancouver\u2019s tech industry wilting.<\/p>\n<p style=\"text-align: justify;\">Even if such an unlikely scenario occurred in Canada\u2019s largest city\u2014it won\u2019t\u2014the economy is diverse enough to continue supporting the frenzied desire for commercial real estate space.<\/p>\n<p style=\"text-align: justify;\">\u201cIf you look at Toronto, it\u2019s the biggest economic centre in Canada and also the most stable,\u201d said Reading. \u201cOver time, values will only increase in the commercial sector. You can\u2019t just create another Toronto. It\u2019s a 24-hour, world-class city, so your investment is pretty safe in Toronto. It\u2019s a large diverse economy and it has a lot of things going for it. If you\u2019re looking for safety in your investment, Toronto is the first place to go in Canada.\u201d<\/p>\n<p><a href=\"https:\/\/www.canadianrealestatemagazine.ca\/news\/record-investment-in-this-sector-will-continue-in-2019-250994.aspx\" target=\"_blank\" rel=\"noopener\">Record Investment in This Sector will Continue in 2019<\/a> by Neil Sharma | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investment in Canada\u2019s commercial real estate sector has been strong all year and\u2014especially in the cases of Toronto and Vancouver\u2014should continue well through 2019. According to a report by Morguard, &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/11\/record-investment-in-commercial-real-estate-will-continue-in-2019\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-10952","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Record Investment in Commercial Real Estate will Continue in 2019 &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2018\/11\/record-investment-in-commercial-real-estate-will-continue-in-2019\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Record Investment in Commercial Real Estate will Continue in 2019 &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Investment in Canada\u2019s commercial real estate sector has been strong all year and\u2014especially in the cases of Toronto and Vancouver\u2014should continue well through 2019. 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