Photo by paul dex
According to Cushman & Wakefield’s International Investment Atlas Summary 2011, Toronto became one of the top 20 cities for global commercial real estate investors. Overall, though, Canada lags behind, holding a distant seventh place when it comes to total amount of foreign investment.
The summary indicates that Ontario’s capital attracted about $4-billion in foreign investment throughout the last year, putting it in 13th place on the list. Similar amounts were invested in cities like Chicago, Sydney, Moscow, Shanghai and Stockholm.
Getting over the hurdle
Still, the figures remain relatively low compared to world leaders London ($21.1 billion), Tokyo ($15.6 billion) and New York ($11.8 billion). New York saw a near doubling in its amount to succeed Paris as third-place city. London has also been a target for Canadian investors as the city benefits from its growing image as the safe haven of the global market.
The report further states that “The Canadian market recovered well in 2010, with investment up nearly 150 per cent, yields falling over 50 basis points and rents stabilizing and increasing in some segments as occupier demand firmed and employment regained the ground lost in the recession.”
Lately, there has been a mild increase in supply, meeting strong investor demand although many major Canadian investors continue to look outside the country for access to a greater pool of investment opportunities.
