Popular in the news, the residential real estate boom is a well-known phenomenon by now, but what about commercial real estate?
The Impact of the Pandemic on the Market
The impact of the pandemic on office space has been significant. Indeed, the popularity of telecommuting has had a major impact on downtown areas around the world. To promote social distancing, many governments encouraged people to continue working from home. Before the outbreak of the new coronavirus, 82 per cent of Canadian employees worked from the office every day. Today, only 27 per cent do, according to a survey by the consulting firm PwC.
Indoor malls have also seen a decline in traffic, as have downtown stores in Toronto, Montreal, and Vancouver, partly due to vacancies in office towers.
The industrial sector is experiencing a particular shift and effervescence in the post-pandemic period to meet changing needs. Logistics, warehousing, and fulfilment have seen an impressive rise in demand from e-commerce, home food delivery services, home improvement retailers and more.
Commercial development projects are multiplying, and many delays are being caused by the lack of manpower in the construction sector. Their industrial market is making room for innovation in its development of multi-residential projects.
An Event to Get a Clearer Picture
In order to get a portrait of Quebec’s market, Centris, in partnership with the Quebec Professional Association of Real Estate Brokers (QPAREB), is proposing to explore these themes in greater depth at an event dedicated to commercial real estate.
Centris and the QPAREB are inviting real estate enthusiasts to participate in the 8th edition of the Forum Immobilier Commercial, which will take place on October 25th.
The event will be held in a hybrid mode, live from the Casino de Montréal, to promote networking, and via webcast.
A Major Forum in the World of Commercial Real Estate
This conference, which is 100% dedicated to commercial real estate, provides a unique opportunity to stay informed about this constantly evolving market. A schedule punctuated by exchanges with experts, presenters and speakers will cover the latest real estate news.
Some of the topics to be discussed:
- Pitfalls to avoid in commercial transactions
- The evolution of the real estate transaction
- Commercial leases: standard clauses, strategies, and legal aspects
- The revolution in the industrial sector
- The future of the office product
Are you interested in commercial real estate? Don’t miss the Forum Immobilier Commercial, which will be hosted this year by René Vézina, a speaker, columnist and journalist known for his expertise in economics.
