Alaa’s Real Estate Projections for 2018
Monday Jan 01st, 2018
First and foremost, I would like to wish everyone a very happy new year and many more to come.
Being a top individual broker and achieving so many milestones in the real estate industry gives me a great deal of pride in what I do, but it also puts a great deal of responsibility over my shoulders and the need to spread the knowledge for the general good.
I’m dedicating this entry for my professional view of the some of the trends and projections of the real estate industry for 2018 in Canada. Please feel free to read it and share it with friends and family, especially those who are looking to buy any type of real estate this year.
- Canada’s retail sector is being highly impacted by the growth of online shopping. Therefore, retail centers need to become more creative and innovative in terms of what they offer on their premises. They need to think of more ways to incorporate public spaces, multiple services, and possibly cultural programs and events into their businesses.
- Investing in rental properties, especially those for businesses -such as centers and specialty hubs- are considered to be highly lucrative assets in 2018 and hold a great short-term return on their investments. Owning a medical center for example that has a family physician, a pharmacy, and a dentist can multiply the building’s value in terms of property and location, and it becomes a great source of extra income.
- Condominiums, especially those that are strategically located in busy and downtown areas will remain to be popular through 2018. Young professionals who are looking to be closely located to their work surroundings are helping to maintain this trend. Also, new tighter mortgage rules will push some first-time buyers into resorting to buying condos.
- Around 66% of new homes built today in Canada are multi family homes, and this number is expected to be maintained throughout this year as well.
- Rental Properties around Canada have been performing very well and will continue to do so this year.
- E-commerce has been the driver behind the industrial expansion. E-commerce requires large warehouses and logistics in order for it to flourish, and so the rise and steadiness will keep rising as long as online merchandise exists.
I am always available to answer any of your questions or concerns, feel free to contact me anytime.