Vancouver's North Shore is fast becoming one of the best locations for real estate investment this year,
new research has suggested. The Canadian city is benefiting from its tight supply of quality inventory, as well as the region's affluence.
"After almost two years of challenges in our market we are pleased to see evidence of the turn around. Both investor and business confidence is on the rise, leasing activity has started to increase and deal velocity is up," said Terry Thies, principal at Avison Young.
The firm's Spring 2011 Commercial Real Estate Market Report has painted a positive picture of the current state of the market, noting that it is attractive to public and private investors, as well as developers, Investment International has reported.
Mr Thies said that he expects lease rates to stabilise through 2011 and property values to stay strong.
Retail property investment recorded a remarkable 460 per cent increase between 2009 and 2010, climbing from USD 17 million to USD 93 million, according to RealNet Canada. Overall retail deal volume climbed to 23 transactions in 2010 from 16 the previous year.
- Friday 20 May 2011