Reflecting on a year in which the pandemic unsettled market fundamentals to the east and to the west, Calgary-based analysts focus more on tangential circumstances than the COVID-19 outbreak itself.
Women were jettisoned from 14,300 of the roughly 16,000 positions Ontario's real estate, rental and leasing sector shed last year.
Newly released 2020 investment results find industrial and multifamily assets on the positive side of the national average total return for 2,356 directly held standing assets, which registered -4.1 per cent.
A new slate of conservation and demand management (CDM) programs allocates $456 million for commercial, institutional and industrial consumers over the four-year period from 2021-24.
For now, residential and small business customers enrolled for either time-of-use (TOU) rates or tiered pricing under the provincial regulated price plan will be charged the off-peak TOU rate of 8.5 cents per kilowatt-hour for all electricity consumption.
Resident British Columbians own about 30 per cent of the properties subject to the speculation and vacancy tax, but account for just 6.6 per cent of collected revenue.
Industrial availability tightened from the third quarter in eight of the 11 surveyed markets, ending the year at well below 2 per cent in Vancouver and Montreal and below 1 per cent in Toronto.
The commercial real estate, facilities management and construction/retrofit sectors appear poised to capture a share of the spending announced in the Canadian government’s fall economic statement.
Beyond stores selling essential goods, bricks-and-mortar retail is reeling from COVID-19-triggered public health controls and watching its already gaining competition grow even faster than projected.
CERS will deliver direct rent support to qualifying tenants without the need to work though their landlords. As a direct subsidy, unlike CECRA, no loan agreement is required.
As announced in the provincial budget, the Ontario government plans to equalize the business education tax (BET) rate at 0.88 per cent for 2021, equating to a $450-million tax cut province-wide.
The commercial property tax rate is at least double the residential rate in eight of the 11 surveyed cities, with commercial ratepayers in Montreal, Toronto and Quebec City shouldering the most disproportionate shares.
The bulk of findings in the newly released Altus Group Global Property Development Trends Report are tied to opinions collected in early 2020 before COVID-19’s full hit landed in the world’s commercial real estate markets.
Proposals address a range of issues that are likely to be of interest to listed real estate entities and their investors, as well as start-up ventures and other publicly traded service providers to the industry.
Canada Emergency Commercial Rent Assistance will be offered for a sixth month. The announcement comes eight days after the portal for new applications for the relief program appeared to be closed.
With the August 31 deadline for first-time applications for Canada Emergency Commercial Rent Assistance (CECRA) now passed, the three-month program that evolved into five months of relief is closed to new recipients.
Under COVID-19-induced pressure, investors, lenders and public markets are signalling a preference for multifamily assets. The asset class was the top attractor of investment dollars in Canada’s commercial real estate market during the first half of 2020.