Millennials are loving commercial real estate investment in Canada. Although, their reasons may be very different from their parents and grandparents, Alberta’s new vision for Edmonton is drawing many young investors to this asset class.
Not Just Millennials
Generation X and boomers are also both returning to the commercial real estate market in big ways. While they have different motivations, for Gen X and those approaching retirement, commercial real estate remains a stronghold for wealth protection and reducing tax liabilities. It’s a top pick for those that can’t afford to gamble with their financial future, while at the same time providing ongoing income.
CRE is in for Gen Y
Edmonton’s rapidly transforming skyline has a lot to offer Millennials. Many young entrepreneurs are pioneering a new revolution back towards bricks and mortar opportunities, such as local shopping centers. While freedom of lifestyle may still be among their top priorities, surveys show they care about their communities and are more emotionally invested in them than their previous generation.
Although Gen-Y may not be big on owning their own homes, they appreciate real estate. In fact, many are as bullish on real estate as Generation X was at the beginning of the 2000s. This makes commercial investment property the perfect investment pick, as the passive income it produces also fuels more freedom to pursue other passions and provides investors the ability to travel, explore and live.
This surge in interest in Canadian commercial property is only going to help drive values and yields higher, making it an increasingly profitable sector for years to come. So whether you are on the threshold of retirement or just months out of school, it’s worth looking at what commercial real estate can do for you.
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