Canada’s top real estate executives are predicting a brighter future for commercial real estate. The views of 49 leading real estate executives were captured in the third quarter 2011 REALpac/FPL Canadian Real Estate Sentiment Survey. The quarterly survey measures executives’ current and future outlook on three topics: overall real estate conditions, access to capital markets, and real estate asset pricing. Survey respondents represent the retail, office, industrial, hotel, multi-family, residential, and seniors residential asset classes. Respondents expected market conditions to improve, although not at the same pace as last year. Overall, they view Canada’s commercial real estate market as stable and attractive, which bodes well for future investment and development.
Some of the comments from real estate executives that participated in the survey include:
“The various Canadian real estate markets continue to be viewed as an attractive market for safe investment and development. Conservative banking fundamentals have been both a blessing and a curse. The banks offer stability due to their conservative fundamentals, but at the same time, they also act as barriers to entry.”
“Absorption has improved and markets are quite strong. Interest rates are low, job creation is good, and there’s growth in the market. I’m still surprised by the strength of the market.”
“Lenders are staying disciplined, but they’re lending and lending consistently.”
“We work mostly with the A-list banks, and we’ve been able to get what we need. It’s definitely better than last year.”
For further information: 2011 REALpac/FPL Canadian Real Estate Sentiment Survey.