Canada remains a safe bet for investors in the global property game, the results of a new survey from the Association of Foreign Investment in Real Estate (AFIRE) suggest.
As part of its 2016 Foreign Investment Survey, AFIRE asked its 200 worldwide members — which include major real estate owner and developer Oxford Properties Group and a number of Canadian pension funds — what country offers the most stability and security when it comes to real estate investment.
Although just six per cent of respondents chose Canada, that was good enough to earn the country fourth on the list, a spot it has occupied the past three years.
“There were only six countries that even got votes,” James Fetgatter, AFIRE’s CEO, tells BuzzBuzzHome News. Fetgatter explains the question was “open-ended,” therefore respondents could have picked any country. “There’s clearly some interest in Canada because it is such a stable and secure market,” he adds.
The US was by far the most popular choice, however, commanding 60 per cent of all votes, followed by Germany at 19 per cent and the UK at nine per cent. Canada bested Australia’s four per cent and the Netherlands’ two per cent.
Though Canada managed to make the top five once again, its performance falls short of what Fetgatter calls “the significant number” from 2012, when it garnered 18 per cent of the vote and was ranked second. “I think you could probably attribute that to the price of oil, perhaps,” says Fetgatter.
The survey also asked respondents to name their leading cities for real estate investment. Canada was represented here, too, albeit at the bottom. Calgary and Toronto tied in the 27th spot.
Meanwhile, three stateside cities made the top five: New York led all cities, Los Angeles was third, and San Francisco equaled Paris’ fifth-place performance. As it did last year, London occupied the second slot while Berlin became the first German city to crack the top five by placing fourth.