There’s been a recent surge in interest in Saskatchewan, as Western Investor’s current most-popular stories are situated in the Prairie heartland. Development on pricey agricultural land in the Lower Mainland has sparked debate, while Saskatchewan farmland has emerged as a more-affordable alternative. Industrial property is also pulling in impressive returns. Generally, Saskatoon and Regina offer more land and industrial opportunities than the Lower Mainland, which consistently maintains a low level of supply and an even lower vacancy rate.
Here are the top Saskatchewan stories driving up viewership on WesternInvestor.com
A $26.5 million land deal doesn’t happen everyday – let alone in a small, little-known Saskatchewan town. One of the largest deals in the province’s history took place in the town of Tisdale, demonstrating not all commercial sectors in the Prairies were severely impacted by the oil recession. In fact, farmland is selling briskly, according to argi-specialist realtors.
A recent survey by Colliers International backs up the claim of continued confidence in Saskatchewan assets as the majority of investors plan to add more properties to their portfolios despite the province’s current economic uncertainty. The survey also back up the idea that investors are looking to Saskatchewan for its affordability – 71 per cent of buyers expect to pay less for assets in 2017.
Although values of Saskatchewan farmland have doubled from 2010 to 2014, investors are still flocking to the province due to its relative affordability to other agricultural land in the world. Farmland requires less upkeep than other types of commercial investments, making it a more secure asset class for owners to profit from.
With farm sales picking up in the province, questions have been raised as to whether there should be tougher sanctions on non-residents buyers. Some sellers looking to do away with farmland may be pushing back against the new restrictions that could hinder prices, as the recent increase in value can be attributed off-shore, non-farming interests.