The impact of the under-pressure oil industry continues to impact Calgary’s commercial property sector. Real estate firm JLL says that the rental rates for offices in the city are down 17 per cent in 2015 compared to last year. Average asking rent is almost half the $40 it was in 2007/8 and class A rents have fallen more than 40 per cent since the start of 2015. Additional supply of sublease office space has impacted the market JLL’s quarterly report noted.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: