September 26, 2011
Canadian Office Market Strong: CBRE

CALGARY — Volatility in financial markets and global economic uncertainty have left many investors concerned about the impact of any future downturn on Canadian commercial real estate markets, says a report released Monday by CB Richard Ellis Ltd.

While it is unclear where the Canadian and global economy is headed, the Canadian commercial real estate market is much better positioned to withstand any impending shocks than it was in 2008, said the report.

The national office market outperformed expectations during the recession and continues to do so in the recovery phase. In the third quarter of 2011, the national office vacancy rate was 8.2 per cent, which is down from a recessionary high of 10.1 per cent in the second quarter of 2010, said CBRE.


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