Beyond the Health Crisis: Canada National Report
Economic Outlook Brightens as Nation Cautiously Reopens;
Pandemic Accelerating Property Trends
Economy demonstrates resilience but headwinds remain. The tide started to turn for the Canadian economy in May as provincial governments announced reopening plans and establishments rehired employees. While uncertainties remain, the probability of a recovery has strengthened. As the nation advances through the health crisis, some asset classes will be more severely impacted than others, including the challenged retail sector. The virus has shifted consumer patterns and business operations, accelerating a variety of real estate trends that are creating new options for investors. The particularly strong property metrics prior to the downturn will help most markets withstand the hurdles ahead, encouraging buyers to remain active in the search for long-term growth prospects.