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Research

Canada Cap Rate Report Q2 2017

Canada Cap Rate Report Q2 2017

Canada Cap Rate Report Q2 2017

The Canadian commercial real estate market continues to fluctuate from market to market. Vancouver and Toronto continue to see aggressive price growth and strong competition for well-placed assets. Secondary markets should benefit as investors look to these markets to place capital in the back half of 2017. However, with a lack of available product, prices remain competitive in these locations as well.

  • Vancouver: The Vancouver market has thrived during the first half of 2017 in all property sectors signaling a very competitive market.
  • Edmonton: Edmonton remains a consistent market with strong, well-placed assets garnering investor attention. Deal volume seems to be trending up towards the back half of 2017.
  • Calgary: Retail and Industrial assets have remained stable in Calgary, while multi-family assets have shown signs of confidence as investors are willing to accept lower yields on new low-rise construction.
  • Winnipeg: The industrial sector appears to be seeing downward pressure on cap rates in 2017 due to increased demand for multi-tenant properties with southwest Winnipeg becoming the most desirable location compared to other industrial areas of Winnipeg. 
  • Toronto: Looking forward, Toronto is expected to continue to experience a market where high-quality properties within the GTA will continue to attract top dollar as investors look to place capital. 
  • Ottawa: Ottawa has witnessed a shift after continued strong performance with developers expanding outside the scope of typical projects and transitioning into purpose-built rentals, seniors housing, and student housing as some examples.


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