The story of Canadian real estate this year is one of shifting economic fortunes and changing real estate trends. The decline in oil prices has caused a sharp slowdown in the Calgary economy, the Edmonton economy also is trending downward, and the long-term impact on the local real estate market remains to be seen. At the time of writing, the Canadian economy has had a second quarter of minor decline—largely a result of the impact of oil in Alberta. Yet these low energy prices—and the low Canadian dollar—are improving the prospects for manufacturing, transportation, warehousing, and other sectors across the country, especially in eastern Canada. As economic power returns to the east, investors and developers are turning their attention to new opportunities in faster-growing Toronto and some parts of Montreal. Vancouver is the exception in the west, as it retains the top real estate investment spot.
BC Regional Leader, China Business Network, PwC Canada
Tel: +1 604 806 7276
Senior Manager, PwC Canada
Tel: +1 514 205 5148