Colliers Talks: Behind the Data – The Impact of Population and Demographics on Commercial Real Estate

Jacobs and Ivankovic cover the following topics:Over the last few years, Canada has seen more immigration to secondary or tertiary markets, and particularly in Alberta, which has been trying to attract more residents.Immigration is not only changing the number of Canadian consumers, but is also shifting how people consume products and the types of services required around the country. A surging population could also prove to be a boon for the office market, given that many industries will need larger teams of white-collar workers to remain functional and productive. Overall demand for various types of housing is going to increase, but we have yet to see meaningful solutions to expand and diversify the national housing inventory to keep pace with growth. It's becoming increasingly clear that governments alone will not be able to solve this problem. We're in the middle of a debate about productivity and the office. While many workers remain productive in a hybrid work environment, what are the consequences for innovation? Footwear, cosmetics, dollar stores and urban malls are thriving in the retail landscape. How are other retail types performing? Some forms of tourism, including cruises, are bouncing back, but we have yet to see tourism from China return to pre-pandemic levels — and that could impact the luxury shopping sector.