Commercial property values stable in 2014
Article by Scott Larson, The StarPhoenix, July 15, 2014
“Values for commercial properties have been stable for the first half of 2014 and that trend is expected to essentially continue through the rest of the year.
While market activity has slowed following several years of above-normal activity, a new ICR Commercial Real Estate survey shows that through the first part of 2014 sale prices remained relatively stable and this trend is predicted to continue at least until the end of the year.
“All things being constant, we saw a tapering off in 2013 of values and I see a continuation of that in 2014,” said Barry Stuart, commercial sales and leasing agent with ICR.
“This deceleration in activity has allowed the market to take a breather and stabilize. (It) is not necessarily viewed as a negative, as an appetite for investments remains strong and demand continues to gather pace, particularly for prime retail locations in prominent subsectors,” said the report. Stuart said we are coming off some stellar years in terms of commercial real estate values.”
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