Real Estate

Local real estate experts say that while office space is here to stay, it will likely be configured very differently once people start returning to their cubicles en masse.

Builders started work on 393 new dwellings in the region last month, a steep drop from the 1,074 starts recorded in December 2020.

Canadian Real Estate Association said Monday that about 667,000 residential properties changed hands in 2021, about 30 per cent more than the 10-year average.

Median price of a single-family detached home in the capital rose 20 per cent year-over-year to $876,600 in the quarter, while condo prices increased 11.5 per cent to $417,700.

Downtown vacancy rate of 9.9 per cent last quarter was the third-lowest in North America behind Vancouver and Toronto, real estate firm CBRE says.

BRB REIT's portfolio in the National Capital Region now includes more than 650,000 square feet of space at nine office buildings and one industrial property.

Marquee transactions worth a combined $87 million have Ottawa brokerage predicting the new year will pick up right where a frothy 2021 left off for the city's office market.

By limiting development on certain streets to four storeys, the city has virtually guaranteed that these lots will remain undeveloped, writes Toon Dreessen.

Members of the Ottawa Real Estate Board sold 862 residential properties in December, compared with 997 in December 2020, a decrease of 14 per cent.

Large numbers of area residents say they’d like to live in a new part of the city – or even beyond its borders – as the shift to remote work opens opportunities to move without fears of lengthening one’s commute to the office.