Skip to content

Saskatoon real estate set to soar: forecast

Spec building may pay off, says PwC forecast By Geoff Kirbyson A new report predicts Saskatoon will become one of the country’s hottest real estate markets next year.
 Spec building may pay off, says PwC forecast
 
 
 
By Geoff Kirbyson

A new report predicts Saskatoon will become one of the country’s hottest real estate markets next year.
Both foreign and domestic investors are expected to invest in the city, according to PricewaterhouseCoopers Canada (PwC) and the Urban Land Institute, which released the report on real estate trends.
Just how much of an impact the softening of the oil market will have in Saskatoon remains to be seen, said Chris Potter, a Toronto-based partner at PwC Canada.
“Saskatoon is an interesting play. Everybody realizes it is resource-rich. The oil industry doesn’t end at the Alberta-Saskatchewan border. Agriculture and timber are doing well, too, demand which will help push manufacturing,” Potter said.
Saskatoon moved up from No. 8 last year to No. 4 this year, trailing only Vancouver, Toronto and Montreal.
Calgary and Edmonton were the top-ranked cities a year ago but they fell to No. 9 and No. 7 respectfully in this year’s report.
“As the shine has come off other cities, [investors] are looking for alternatives,” Potter said. “There have been discussions of head offices moving to Saskatoon.”
Saskatoon has also seen some building on spec for industrial and logistics in the last couple of years, he said. Home building has been doing well, too.
The report was generated by interviews and surveys with more than 1,400 real estate experts, including developers, brokers, property managers and investors.