Urbanization in Major Cities Offers Canadian Businesses Opportunities-Report from Dr. Sherry Cooper, BMO Financial Group
- Non-residential construction and population growth in major cities' downtown cores create business opportunities
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 11/19/12 -- While a slowdown in residential construction will play a role in moderating growth for Canadian businesses in 2013, a pickup in office/retail construction, combined with increased population density in major cities provide excellent opportunities for entrepreneurs, according to a special report from Dr. Sherry Cooper, Chief Economist, BMO Financial Group.
"The boom in non-residential construction represents a clear example of where opportunities lie for Canadian business," said Dr. Cooper. "The boom applies to both office buildings and shopping centres, as vacancy rates remain low and foreign businesses continue to pour into the country. Despite the enormous office construction in many cities, especially Toronto, space has been gobbled up and A-rated buildings are now planned in areas formerly considered undesirable."
Steve Murphy, head of commercial banking at BMO Bank of Montreal, notes that the strong commercial real estate fundamentals also extend to the owner-occupied market, where businesses own commercial properties for their own use.
"There is strong demand for these properties by users, who are often able to lease out part of the property for additional rental income," said Mr. Murphy. "Now may be a particularly good time for businesses to invest in commercial property for their own use," added Mr. Murphy.
Dr. Cooper also noted the explosion in the number of condominium towers, many of them small and comparatively affordable. "This helps create a readily available pool of well-educated younger workers happy to work downtown. This is not unique to Toronto and has been evident in Vancouver, Montreal and other major Canadian cities."
Dr. Cooper noted some other positives:
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Datum: 19.11.2012 - 05:00 Uhr
Sprache: Deutsch
News-ID 1172423
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