According to Morguard’s 2019 Canadian Economic Outlook & Market Fundamentals, not only is Toronto’s economy on fire but it’s commercial vacancy rate is very low due to constrained supply & high demand, which in turn has put upward pressure on prices.
It is apparently a real struggle to find office space in both Vancouver and Toronto as rents are at peak for this cycle. Toronto is easily the country’s safest bet for investment funds and a huge reason for that is the city’s diverse economy.
Keith Reading (Morguard’s director of research) says that Toronto is the biggest economic centre in Canada and also the most stable. “Over time, values will only increase in the commercial sector. You can’t just create another Toronto. It’s a 24-hour, world-class city, so your investment is pretty safe. It’s a large, diverse economy and it has a lot of things going for it. If you’re looking for a safety in your investment, Toronto is the first place to go in Canada.”
For more on this article, check out: https://www.mortgagebrokernews.ca/news/commercial-mortgage/commercial-sector-thrives-amid-dwindling-vacancy-rates-251044.aspx