Report finds commercial real estate trends shifting toward purpose-built rentals: CP
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The Canadian Press reports that real estate developers have shifted focus toward purpose-built residential construction. The Re/Max Canada’s 2024 Commercial Real Estate Report analyzed 12 of the largest commercial real estate markets in the country and found multi-family and industrial real estate were the top performing asset class in all of the cities. The report says the federal government’s decision to cancel the GST on residential builds has spurred the trend, but warns that it’s still not enough to meet the housing demands of the country’s growing population.
