TORONTO, Jan. 13 /PRNewswire/ - From coast to coast, commercial real estate transaction volumes in Canada will likely decline in 2009 due to a slowdown in executive decision-making as many firms elect to stay put while riding out the economic downturn. In major markets, the addition of new inventory and a spike in sublease space may cause vacancy levels to rise through 2009, and tenants may see some relief with regard to rental rates. As is the case with cyclical downturns, aggressive investors will target distressed situations for higher, long-term yields. However, the Canadian markets continue to benefit from generally strong fundamentals and relatively constrained supply, and should look for improvement towards the second half of 2009.
These are some of the key trends noted in Avison Young (Canada) Inc.'s 2009 National Forecast, released today. The annual report covers the Office, Industrial, Retail and Investment markets in 11 regions: Vancouver, Calgary, Edmonton, Regina, Winnipeg, Toronto, GTA West/Mississauga, Ottawa, Montreal, Quebec City and Halifax.
