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Home Sweet Residence And an Energetic Lifestyle After RetirementLearn the most recent news about residential and industrial actual estate within the Seattle space and Pacific Northwest in appartementdeville.com

Real Estate

Office real estate faces 'reckoning' amid other tailwinds: research director

While Canada’s office real estate sector stands to benefit from certain tailwinds, one research director says it faces a reckoning regarding its risk profile and status as a core asset.

Adam Jacobs, senior national director of research at Colliers Canada, said in an interview with BNNBloomberg.ca Wednesday that office real estate was previously viewed as a “core asset” with a low-risk profile over the longer term. With hybrid working arrangements staying in place beyond the COVID-19 pandemic, he said the market is grappling “with the fact that office clearly does have some risk now.” 

“We’re seeing that technology can disrupt office also, and it has a lot more risk as a long-term investment. So that’s part of the reckoning happening in the market, trying to figure out what’s the price of this?” he said. 

“What’s the value of it? How risky is it compared to a warehouse or a hotel

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Real Estate

Cheap real estate: Incentives to buy homes, land in Canada

The dream for aspiring homeowners may look like scoring $1 worth of land amid rising housing prices and inflation.

The good news is that this dream has come true in some Canadian provinces and territories, which have offered eye-catching relocation incentives to address population decline, housing crises and affordability.

Here’s a look at Canadian properties and lands over the years that have been offered for low prices or with other incentives too good to pass on. Note that some of these deals may have expired or sold out.

Cochrane, Ont.

A northern Ontario town is offering land for $10 in an eye-catching sales pitch to get development companies to build housing and grow the town.

With up to 1,500 eligible lots, Cochrane said buyers will be responsible for developing the infrastructure on unserviced lots and committing to such development.

Eager buyers spilled in with more than 3,000 calls from individuals

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Real Estate

This Obscure Real Estate Stock Pays a Generous Monthly Dividend

Image source: Getty Images

Real estate investment trusts (REITs) underperformed in 2023 because of strong economic headwinds, including rapidly rising interest rates. The hardest hit sub-sectors were office and retail. Fortunately, industry experts predict a turnaround in 2024 after two years of challenging, if not abnormal, conditions.

Canada’s headline inflation fell to 2.9% in January versus the 3.3% consensus estimate. Even if the Bank of Canada decides to hold its key rate at 5% this month, the rate pauses in recent months have improved the outlook for REITs. Investment opportunities should open up once rate cuts begin.

Among the top picks is First Capital (TSX:FCR.UN). This obscure REIT had a strong finish in 2023 and is poised to benefit from a looser monetary policy. Also, at $15.80 per share (+3.95% year to date), the dividend yield is 5.47%. Income investors, especially, would welcome the generous monthly payouts.

Operational and financial

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Real Estate

Israeli real estate event promoting West Bank property draws critics

Open this photo in gallery:

A general view of the West Bank Jewish settlement of Efrat, on Jan. 30, 2023.Mahmoud Illean/The Associated Press

Rival protesters faced off on Thursday outside a synagogue north of Toronto, where a touring Israeli real estate exhibition promoting land for purchase in the occupied West Bank was making its final Canadian stop.

A York Regional Police officer with binoculars stood on the roof of the synagogue in the community of Thornhill, watching dozens of protesters below him who were waving Israeli flags on one side and Palestinian flags on the opposite side of the street.

On the steps of the synagogue where the Great Israeli Real Estate Event was being hosted, demonstrators played pop music, danced and chanted “Israel is a Jewish land.” Across the street, protesters chanted “Palestine is not for sale” and called for the exhibition inside the synagogue to be shut

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Real Estate

Powell: ‘There will be bank failures’ caused by commercial real estate losses

Federal Reserve Chair Jerome Powell said Thursday he expects to see some banks fail due to their exposure to the commercial real estate sector, which has declined significantly in value following the shift to remote work.

Powell said the banks that are in trouble with falling office space and retail assets are not the big banks, which were designated as “systemically important” in the aftermath of the 2008 financial crisis. That episode, which resulted in a taxpayer bailout of the financial sector, was also triggered by unsound real estate assets.

Rather, the banks at risk of failure now Powell identified as smaller and medium-sized.

“This is a problem we’ll be working on for years more, I’m sure. There will be bank failures,” he said during a Thursday hearing on the Fed’s monetary policy in the Senate Banking Committee.

“It’s not a first-order issue for any of the very large banks.

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