Of all the investment opportunities in Canada today, the Daily Business Buzz says that investing in commercial real estate in Calgary, Toronto, Vancouver, or elsewhere is one of the most lucrative ventures foreign and domestic investors should consider getting into. A recent report published by business and advisory firm Grant Thornton LLP states that the commercial real estate market is one of the best-performing, so far, in the world:
The commercial property market in Canada has benefited from a stable economy and the continued health of the banks and capital markets. According to Investment Property Databank’s (IPD) 2011 Global Annual Property Index, capital growth combined with income growth to provide a total return for all property types in Canada of nearly 16 per cent, placing Canada at the very top of the IPD Index.
Calgary commercial real estate for retail use, in particular, is noted to be very lively and competitive compared to most other cities, thanks to an influx of US retailers into the Canadian market in the past couple of years. The growing popularity of e-commerce in the country is also said to be a major contributing factor, even though most Canadians still prefer to obtain products and services through physical outlets. Finding the best locations to set up a retail store, online or otherwise, is one reason why investors would benefit from reliable REALTORS® from trusted associations like the Calgary Real Estate Board (CREB®).
Licensed REALTORS® possess considerable expertise in real estate transactions and regulations within the country. One of the most common concerns of foreign investors is that they’re largely being outdone by domestic investors, especially since the former don’t always know about the various provincial and federal real estate laws in Canada. For example, the Real Estate Council of Alberta (RECA) requires all sellers to submit the most recent Real Property Report that must contain proof of the transaction’s municipal compliance. Any and all material defects on the property should also be disclosed in this report. The Council also requires anything involving property title transfers (for instance, a sale of an entire apartment building) to be filed at the Alberta Land Titles office.
These requirements, and more, can be processed with the help of REALTORS®. In the meantime, real estate investors are advised to turn to Multiple Listing Services System (MLS®) for information on commercial and residential properties for sale.
(From What foreign investors need to know before investing in Canadian real estate, Daily Business Buzz, October 23, 2013)