Commercial Real Estate Trends Shifting Toward Purpose-Built Rentals: Re/Max Report
Published on June 6, 2024
An analysis of 12 of the largest Canadian commercial real estate markets shows developers have shifted their focus toward purpose-built rental construction, some at the expense of new residential condominiums and commercial buildings. Re/Max Canada’s 2024 Commercial Real Estate Report, which examined the dozen markets during the first quarter of this year, said multi-family and industrial real estate were the top-performing asset classes in all cities. It said the federal government’s decision to cancel the GST on new residential builds has spurred the construction of purpose-built rentals, which were the primary focus in every major urban centre analyzed, followed by student housing and seniors’ residences....