While conservative banking practices and stricter regulation kept lending in check and most Canadian real estate investors were saved from overleveraging, they are still worried about suffering more economic shocks if the US can’t get its financial house in order more quickly. This, according to the annual Emerging Trends in Real Estate 2010 report, released by PricewaterhouseCoopers (PwC) and the Urban Land Institute (ULI).
The report reflects interviews with and surveys of more than 900 of the industry’s leading real estate experts, including investors, developers, lenders, brokers and consultants in both Canada and the US. Other versions of this report are conducted in countries around the world including Asia Pacific and Europe.
According to the report, total value losses in Canada will average 10 to 20 % off previous highs but some markets and sectors could suffer steep losses. Markets should enter a slow recovery phase by year-end 2010, but respondents see better investment opportunities eventually in top US and European cities, which could rebound more sharply after steeper declines.
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