Cities in Canada are collectively entering a new energized, globally connected and impactful era.

 

Research from JLL indicates that growing political and economic uncertainties around the globe has led Canada to become the location of choice for risk-averse investors.

 

Housing market continues to grow stronger, despite repeated market-cooling measures. House price in Canada’s eleven major cities soared 13.37 per cent during the year to February, 2017, up from 6.49 per cent y-o-y growth during the same period last year, based on figures from Teranet-National Bank of Canada.

 

Of its eleven Canadian metropolitan areas, two cities stand out – Toronto and Vancouver as having the strongest potential and most opportunities for global real estate investors.

 

Vancouver is expected to lead all Canadian cities with 3.3% in GDP growth in 2017, while Toronto’s economy remains healthy and growing, with construction, transportation, retail and manufacturing, etc. all contributing to this growth, according to research from PwC Canada.

 

Vancouver has seen a strong start to the year in terms of transaction activity with investment volumes at $3.3 billion as compared to $1.5 billion in 4Q 2016, among which the residential investment takes up 13.7 per cent, based on JLL Canadian Capital Market Insight.

 

Demand for condos remains robust in Toronto and Vancouver, driven by urban migration and domestic and foreign buyers seeking investment properties, due to low Canadian dollar, geopolitical uncertainty, low interest rates and insufficient housing supply.

 

Toronto’s condominium inventory has hit a ten-year low and demand remains strong. More high-rise multi-residential projects are expected to enter the pipeline in the years ahead.

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