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Calgary on list of likely commercial real estate hotspots in 2018

A recent report lists Calgary as one of five Canadian cities that will heat up commercially in 2018. The Alberta city made the list alongside Vancouver, Toronto, Montreal and Ottawa. The report indicates there is a sizable amount of capital to be invested in commercial real estate in these cities over this year and beyond, adding that  the commercial sector will be both competitive and busy. 

The Vancouver and Toronto markets were already doing well and have been for some time. However, because of the competition in those markets, investors are looking elsewhere -- in perhaps little less volatile markets such as Calgary, Montreal and Ottawa. Canada's capital had a healthy nonresidential burst of construction in 2017, which is expected to continue this year. 

Due to a less sluggish oil market in Alberta, Calgary is primed to see a very strong year in commercial builds in 2018. Investors see an upswing in market trends and are more willing to invest in the Wild Rose economy. It's a win-win situation for Alberta since increased construction activity will create jobs, which in turn will increase retail spending.

Commercial real estate investment can be rather complicated and is brimming with legalities. Seeking the advice of a lawyer is a wise move when looking to become involved in any real estate endeavours. Even when the market is on an upswing, a lawyer's prudent advice may mean the difference between a successful deal and one that goes sideways. An Alberta real estate lawyer knows what to look for in a contractual agreement that points to the best interests of his or her client. 

Source: mortgagebrokernews.ca, "Look out for these cities to become 2018's commercial hotspots", Ephraim Vecina, Feb. 9, 2018

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