![\"\"](\"https:\/\/iqiglobal-web-revamp.s3.ap-southeast-1.amazonaws.com\/wp\/blog\/wp-content\/uploads\/2023\/01\/edmonton.png\")
The economic outlook for Edmonton is bullish, with the city rising in our survey rankings of markets to watch over last year – forecast forecasts economic growth to be followed by another healthy rise of 4.2% next year.<\/p>\n
Another advantage for Edmonton is that it remains relatively affordable from efforts by the municipal government to increase density by encouraging the development of mixed-use communities.<\/p>\n
As a result, it’s considering taxing low-density properties at a higher rate than multiunit buildings.<\/p>\n
While the office program structure is less challenging as companies continue to assess space needs amid a changing work world, and the industrial market is strong.<\/p>\n
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4. Calgary<\/strong><\/h2>\n![\"\"](\"https:\/\/iqiglobal-web-revamp.s3.ap-southeast-1.amazonaws.com\/wp\/blog\/wp-content\/uploads\/2023\/01\/calgary.png\")
Calgary is a crucial market to watch, rising higher from last year. Higher oil prices are welcome news for the city, which is also seeing high levels of investment in the local technology and film sectors amid the drive to diversify the economy.<\/p>\n
The city’s strong outlook for residential activity – its economic recovery, job growth, relative affordability and rising recognition as a desirable place to live make it attractive for many looking ahead to 2023.<\/p>\n
According to Colliers, the industrial market is seeing high activity levels, with the vacancy rate falling to just 2.4% in the second quarter of 2022. Calgary remains attractive compared to even tighter markets, with affordable land still available on the city’s periphery.<\/p>\n
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3. Montreal<\/h2>\n
![\"\"](\"https:\/\/iqiglobal-web-revamp.s3.ap-southeast-1.amazonaws.com\/wp\/blog\/wp-content\/uploads\/2023\/01\/montreal.png\")
At 2.7%, Montreal has been predicting more modest economic growth in 2023 than some of our other markets. Even so, the city’s attractiveness for investment activity and a meagre unemployment rate that will dip to 5.3% this year continue to be sources of strength.<\/p>\n
A key focus of activity is the rental housing market, where low vacancy and healthy rental rates drive construction growth. Condos are also attractive, and many projects are moving forward despite rising interest rates and other industry challenges.<\/p>\n
Developers also see opportunities around transit-oriented development, including those related to the ongoing development of the Réseau express métropolitain network.<\/p>\n
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2. Toronto<\/strong><\/h2>\n![\"\"](\"https:\/\/iqiglobal-web-revamp.s3.ap-southeast-1.amazonaws.com\/wp\/blog\/wp-content\/uploads\/2023\/01\/toronto.png\")
Toronto’s real estate market remains a favourite, driven partly by solid population growth projections.<\/p>\n
Among the factors helping to bolster the market is continued economic growth – where the gross domestic product will rise by 3.5% in 2023, which is down slightly from an estimated increase of 3.8% in 2022.<\/p>\n
Nevertheless, the short-term outlook for some areas of the Toronto real estate market is mixed. Amid fewer preconstruction sales, total housing starts will fall in 2023 before rising in 2024.<\/p>\n
There’s also ongoing uncertainty around the office market as tenants wait to see how return-to-office strategies evolve. While downtown foot traffic has risen, it’s still below pre-pandemic levels. The outlook for industrial assets remains strong, although there’s some concern that demand could drop if there’s a broader economic downturn.<\/p>\n
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1. Vancouver<\/strong><\/h2>\n![\"\"](\"https:\/\/iqiglobal-web-revamp.s3.ap-southeast-1.amazonaws.com\/wp\/blog\/wp-content\/uploads\/2023\/01\/vancouver.png\")
The Vancouver real estate market ranks highest among major Canadian cities for its investment and development prospects. The Conference Board of Canada (CBoC) predicts healthy economic growth of 3.3% in 2023.<\/p>\n
Among the real estate industry opportunities are developments along the Broadway subway project, which is finally underway. The office market is seeing declining vacancies and climbing rents with new products in the works.<\/p>\n
The all-class downtown vacancy rate dropped to 7.2% in the second quarter of 2022, down from 7.7% at the start of the year, according to CBRE. Among the factors buoying the office markets are a vibrant technology sector and a higher propensity for employees to return to the workplace in Vancouver and other cities in western Canada.<\/p>\n
\nLooking for the ideal investment in Ontario, Canada? IQI Canada will be your guide from start to finish. Please chat with our team members to know more!<\/strong><\/p>\n\n\t\t\t\t\t\t
Calgary is a crucial market to watch, rising higher from last year. Higher oil prices are welcome news for the city, which is also seeing high levels of investment in the local technology and film sectors amid the drive to diversify the economy.<\/p>\nAt 2.7%, Montreal has been predicting more modest economic growth in 2023 than some of our other markets. Even so, the city’s attractiveness for investment activity and a meagre unemployment rate that will dip to 5.3% this year continue to be sources of strength.<\/p>\nToronto’s real estate market remains a favourite, driven partly by solid population growth projections.<\/p>\n
Among the factors helping to bolster the market is continued economic growth – where the gross domestic product will rise by 3.5% in 2023, which is down slightly from an estimated increase of 3.8% in 2022.<\/p>\n
Nevertheless, the short-term outlook for some areas of the Toronto real estate market is mixed. Amid fewer preconstruction sales, total housing starts will fall in 2023 before rising in 2024.<\/p>\n
There’s also ongoing uncertainty around the office market as tenants wait to see how return-to-office strategies evolve. While downtown foot traffic has risen, it’s still below pre-pandemic levels. The outlook for industrial assets remains strong, although there’s some concern that demand could drop if there’s a broader economic downturn.<\/p>\n
<\/p>\n
1. Vancouver<\/strong><\/h2>\nThe Vancouver real estate market ranks highest among major Canadian cities for its investment and development prospects. The Conference Board of Canada (CBoC) predicts healthy economic growth of 3.3% in 2023.<\/p>\n
Among the real estate industry opportunities are developments along the Broadway subway project, which is finally underway. The office market is seeing declining vacancies and climbing rents with new products in the works.<\/p>\n
The all-class downtown vacancy rate dropped to 7.2% in the second quarter of 2022, down from 7.7% at the start of the year, according to CBRE. Among the factors buoying the office markets are a vibrant technology sector and a higher propensity for employees to return to the workplace in Vancouver and other cities in western Canada.<\/p>\n
\nLooking for the ideal investment in Ontario, Canada? IQI Canada will be your guide from start to finish. Please chat with our team members to know more!<\/strong><\/p>\n\n\t\t\t\t\t\t
The Vancouver real estate market ranks highest among major Canadian cities for its investment and development prospects. The Conference Board of Canada (CBoC) predicts healthy economic growth of 3.3% in 2023.<\/p>\n