investment in Calgary's commercial real estate sector is expected to slow significantly in the first part of 2009 but pick up in the second half of the year, says national firm Avison Young (Canada) Inc.
In its 2009 national forecast released Tuesday, the company said "activity will be tempered while values adjust and credit remains tight. The general lack of financing will be a challenge for investors."
"Purchasers will expect new pricing levels to be set, and it remains to be seen how long it will take before buyer and seller expectations align,"said the report. "While it is expected liquidity in lending markets will increase, stringent loan-to-value ratios and the higher cost of credit will persist, impeding access to capital for leveraged buyers."
