Commercial real estate in Ottawa struggled in 2014 according to a report from Colliers International.
Commercial real estate in Ottawa struggled in 2014 according to a report from Colliers International. Oliver Tighe, Director of Valuation and Advisory Services, said: “The Ottawa commercial real estate market has had a tough year, as evidenced by a 16 per cent decrease in total transaction volume in 2014 compared to 2013 for all asset classes, the multi-family asset class is the only category that has remained positive through 2014, posting the highest number of transactions (42), in comparison to all other assets that hovered in the low twenties range.” Colliers forecast that this year should see a substantial uptick in transaction value and volume but says that owners with older properties may need to upgrade their buildings to stay competitive against new supply.
