Jean François Desormeaux invests in Canadian real estate
Montréal, Canada, 26th Aug 2022, While the weak dollar has been blamed for the recent decline in Canadian commercial real estate investment, Chinese-Canadian investors currently dominate. While Asians have traditionally bought smaller homes in Vancouver, they are increasingly buying more significant and expensive homes across Canada. So far this year, Chinese and Hong Kong buyers have spent $1.3 billion on commercial real estate, up from $309 million last year.
This is where Jean François Desormeaux comes in to invest in Canadian real estate. Seeing that the economy should grow in the coming years, boosting commercial real estate performance, he placed his bets. His company specializes even more than ever in these very commercial spaces.
“In a good economy, commercial real estate is in high demand in Canada. Customers expect fast shipping from online retailers, so they build fulfillment facilities in Canada. says Jean-François Desormeaux, CEO of IdealFinance.
Indeed Jean-François Desormeaux is a dynamic entrepreneur with relevant experience in representation and management. His strengths lie in sales, market development and the evaluation of business opportunities. This is also where he comes in.
His team has substantial knowledge of maintenance costs, the renovation budget, the management of professionals (to ensure that deadlines are met), and the study of the project’s profitability. Its rental team accompanies new tenants from the first visit, from signing to handing over the keys.
“With a projected 1.2 million newcomers to Canada over the next three years, the demand for space in major urban centers is likely to increase. More than 60% will be economically qualified so they will look for a space close to their job. Moreover, even if interest rates increase across the country, they will remain stable in certain regions. In other words, the Canadian commercial real estate market is booming,” adds Jean-François Desormeaux.
Jean François Desormeaux suggests that commercial real estate is ready for expansion, despite the current crisis climate in the markets. The supply/demand balance will continue to favour occupants, and additional sums will be attracted towards commercial real estate debt in the coming years. This activity will be driven by several significant developments in 2022 despite the bearish mood that people expect.
“It’s a no-brainer, vacancy rates fell across all core commercial sectors, including office space, during the fourth quarter of 2021, but rents remained consistent. Vacancy rates have decreased in all core commercial sectors, including office space,” noted Jean-François Desormeaux.
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