Canadian real estate market : what to expect in 2017?

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Canadian real estate market : what to expect in 2017?

It’s this time of year again ; PricewaterhouseCoopers published its annual Canadian real estate market trend forecast for 2017. Even if said forecast is mainly optimistic, next year’s property buyers and sellers will have to face a couple changes…

Broadly speaking, the PricewaterhouseCoopers firm summarizes this new report the following way :

”Investors, developers and property owners are cautiously optimistic about the Canadian real estate market’s outlook for the year ahead. While the rest of Canada faces challenges unique to individual regions, Toronto and Vancouver’s markets continue to experience high demand due to a lack of supply. This has driven up prices and caused affordability concerns. But the main message is that every regional market offers opportunities for savvy developers and investors—as long as they embrace technology and anticipate their future buyers’ needs.”

According to the publication, in 2017, the Canadian real estate market will be characterized by three main factors : building communities, a general increase in prices, and ”technology disruptors”, meaning that homes will use more of the new technologies available on the market.

Whether we think of Vancouver or Toronto, it seems to be widely acknowledged that urban centers’ real estate markets are changing faster than ever. In 2017, Montreal will get its fair share of transactions which, in turn, will stimulate the local economy.

Finally, based on its study, PricewaterhouseCoopers urges investors to consider the following real estate opportunities : industrial properties, purpose-built multifamily rentals, urban mixed-use developments, and seniors’ housing and retirement homes.

To go through the complete version of the PricewaterhouseCoopers report, we suggest you click on the following link.  And remember that Genest & Marinacci, Real Estate Brokers, is highly qualified to facilitate your next real estate transactions, whether they a located in Canada or anywhere else in the world.

Sources : La Presse, PricewaterhouseCoopers

Photo : Genest & Marinacci, Courtiers immobiliers

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