Thursday, March 18, 2010

MIPIM 2010: Canada beyond the Olympics

Wisconsin Real Estate MBAs report from MIPIM 2010:

Panel: Canada: The “New” Safest Market in the World

Fresh off the successful hosting of the 2010 Winter Olympic Games, Canada is attempting to direct attention and investment to the relative safe waters of its national property markets. Stability is their motto, and with the recent downturn in the global economy, the Canadian property market boasts both attractive market fundamentals as well as a strong positive outlook for the next century.

Vacancy rates are approximately 5%-10% lower than U.S. markets and net absorption showed positive results over the last calendar year. As a result, there are very few distressed properties within the market, and there is no unnecessary pressure forcing investors to make reactionary moves to extraordinary market forces. Canada hopes that the lure of large natural resource reserves, in tandem with an economy that projects to rebound much quicker than other global markets, will be the distinguishing factor in driving more demand and investment in its property market.

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