RE/MAX Canada's vice president, Elton Ash told Canadian Mortgage Professional there is plenty of room for optimism in the current commercial real estate market despite the challenges. In a recent report that analyzed 12 markets in Canada, RE/MAX predicted an upswing in demand. Ash believes a strong industrial sector and increasing demand in the multifamily segment are driving the desire to put deals together in the current market. - He highlighted the office sector as the only weak area right now, with more companies resorting to remote and hybrid work experience.
- Ash expects the growth of REITs, aided by a growing popularity for multifamily products, to continue as immigration would drive the demand for rental properties.
- Another trend he predicts to grow is the live-work-shop phenomenon, with residential applications on the commercially zoned property increasing across the country.
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