Montreal, Saskatoon Real Estate to Lure Foreign Investors: Report

A new report on real estate trends says foreign investors may start looking beyond Toronto and Vancouver and begin targeting markets in Montreal and Saskatoon in the coming year. The report by PwC Canada and the Urban Land Institute says both foreign and domestic real estate investment will shift in 2016 from Western Canada, where falling oil prices are hurting growth, to the east, where the low loonie is boosting manufacturing.

Vancouver is the notable exception, rising to first place as the country’s must-watch real estate market. Money is also expected to continue to flow into the Toronto market, the country’s largest.

PwC says Calgary and Edmonton were, until recently, among the most country’s most promising real estate markets. However, as the price of crude has plummeted and investment in the oilpatch has dried up, both residential and commercial properties in the region have stopped switching hands as owners take a wait-and-see approach.

Meanwhile, real estate markets in Ontario and Quebec – home to the bulk of the country’s manufacturing sector – are poised to benefit from the lower loonie as well as the economic recovery in the U.S., Canada’s biggest trading partner.

And that could spark greater interest from foreign buyers in the Montreal market, PwC predicts.

Reference: Global News

http://globalnews.ca/…/montreal-saskatoon-real-estate-to-l…/