A survey was conducted on April 6 by TransUnion on the current financial status of 1,035 Canadian adults in the wake of COVID-19. The results released showed that 68% are concerned over their ability to pay loans and bills, and that the average respondent will fall behind on monthly debts in 6.4 weeks. The survey also found that 63% of Canadians have been negatively impacted financially, with 25% due to job loss and 10% being small business owners who have had to slow down or completely close operations. During this time of financial disruption people are looking for alternative solutions. A p ..read more

Co-working space providers are facing a “double-edged sword” Canada’s office sector should ride out the COVID-19 crisis better than most commercial real estate sectors, but the pandemic holds dangers for co-work companies that have both landlords and tenants to deal with. “Demand for office space should see little direct impact from the coronavirus outbreak over the short term,” according to the Coronavirus outbreak: implications for commercial real estate report from Marcus & Millichap.Avison Young, in its take on the effect of COVID-19 on commercial real estate, noted that the ..read more

The investor demand for multi-family homes in Metro Vancouver appears to have surged after the recent lending-rate cuts, according to Western Investor. The sudden interest in apartment buildings came amid the growing concerns about the potential impacts of the COVID-19 outbreak on the economy, said Mark Goodman, a principal at Goodman Commercial. "Interest rates are dropping with no end in sight, which is fuelling the real estate market," he said in a report in Western Investor. In an unexpected move, the Bank of Canada (BoC) has announced emergency changes to the monetary policy, lo ..read more

Nearly 40 per cent of lenders have wholly discounted retail assets from their portfolios, according to report The relative stability and high yields offered by the real estate sector have attracted increased capital and investment activity over the past few years. However, even as Canadian real estate fundamentals reach record levels, lenders are mindful of the prevailing worries over the retail sector, according to CBRE’s most recent Canadian Real Estate Lenders’ Report. Lenders overall are focusing on quality assets, and some have become a bit more selective with where and how they ..read more

“Commercial real estate remained one of the most attractive and stable long-term investments in 2019 and will continue to attract interest from investors in 2020,” says Morguard Morguard has released its Canadian Market Outlook and Market Fundamentals report for 2020 and it is relatively bullish on the commercial real estate market. “Commercial real estate remained one of the most attractive and stable long-term investments in 2019 and will continue to attract interest from investors in 2020,” said Keith Reading, director of research at Morguard. “The real estate industry, along wi ..read more

By the end of this decade, B.C. will have cut greenhouse gas emissions from commercial buildings by 40 percent. Guess how the province will do it? CleanBC, the province’s climate action plan, outlines a range of policies and actions intended to drive down greenhouse gas (GHG) emissions and help bring B.C. closer to its target of reducing carbon pollution 40 percent below 2007 levels by 2030. It’s an ambitious and commendable goal, and reaching it will require sweeping changes across the economy, with implications for almost every industry. The CleanBC plan touches ..read more

Greater Victoria is only metro region in Canada to be assessed at a "high degree of vulnerability" by federal housing agency With home prices remaining relatively muted after a recent correction, Metro Vancouver’s housing market was given a “moderate degree of vulnerability” rating in the quarterly Housing Market Assessment (HMA) released February 20 by Canada Mortgage and Housing Corp. (CMHC). Recent increases in resale activity, uptrending sale prices and a lack of housing inventory were not enough to push the market back into the federal agency's high-risk category.  CMHC’s HMA examine ..read more

Thankfully, success in real estate doesn’t require an ability to predict the future. But having an idea where the market is heading is critical to making the right decisions. PropertyGuys.com recently released a list of six trends that the company feels will have a lasting, potentially transformative effect on Canada’s real estate market in the coming years. Based on consultations with PropertyGuys’ network of agents, developers and customers in both Canada and the US, the trends presented paint a picture of a rapidly changing real estate environment where fulfilling tenant desires will requir ..read more

The past year has brought some surprises to the Canadian mortgage market. A new report from the economics team at the British Columbia Real Estate Association highlights how the year began with an upward trajectory for the Canadian yield curve and expectation that the BoC would gradually increase interest rates. But with the yield curve inverting and the Bank of Canada holding pat on rates, there has been volatility in mortgage rates, exacerbated by the US-China trade war and other external factors. But what about 2020? BCREA believes that there will be no change in interest rates in 2020 ..read more

SURREY, B.C. – B.C. officials aim to make Surrey a “second Lower Mainland downtown” with new plans for an innovation corridor. The announcement stated that the innovation corridor a new government priority that will be crafted in consultation with local government, businesses, First Nations and other partners. The first step in the plan is establishing a Quantum Algorithms Institute at Simon Fraser University’s Surrey campus. “Creating an innovation corridor in Surrey and up the Fraser Valley will create good jobs, attract talent, reduce commute times and raise the standard of living,” said Pr ..read more