While the Urban Land Institute recently picked Vancouver as Canada’s best city for investors in 2017, a CBRE survey of lenders found that more are looking to Toronto.
Approximately 80 per cent of commercial real estate lenders strongly favoured Vancouver last year, but steady compression in capitalization rates and more conservative loan-to-value ratios as asset values rise have led to just 68 per cent of lenders strongly favouring the western city today, CBRE found.
By contrast, Toronto is now strongly in favour among 84 per cent of lenders, versus 77 per cent last year.
