Commercial mortgage lenders have been keen to do business in Vancouver in 2016 but it seems that eagerness if fading as the new year approaches.
A report from CBRE shows that 80 per cent of commercial lenders indicated a strong appetite to lend in Vancouver in 2016 but for 2017 that reduces to 68.4 per cent.
Ontario is set to shine in 2017, with 84.2 per cent of lenders expressing a strong desire to lend in the Greater Toronto Area in the year ahead; other cities in the province are also set to benefit from new inflows of capital, especially Hamilton, the Waterloo region and London.
Quebec and Atlantic Canada are also in line for increased lending with property valuations more moderate.
Other findings of CBRE’s Canadian Real Estate Lenders’ Report include a stronger focus on asset type with industrial, retail and apartment lending expected to show the largest increases.
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