(PRWEB) December 04, 2012
The commercial real estate industry plays an active role in contributing to the economy of Canada. Not only does it provide employment opportunities, it also boosts the economy of Canada. This year, the sector has performed really well and helped stabilize the economy in the wake of the new mortgage policy modifications.
According to statistics, the commercial real estate industry provides employment to an average of about 340,000 people every year. These are high-paying professional jobs that contribute to the revenue stream of the economy and enhance the standard of living of many across Canada.
The income generated from jobs in this sector amount to about $18.1 billion. This amount is twice as much as that generated from employees working in the primary sector (fishing, forestry and agriculture) combined.
The first half of 2012 witnessed excellent performance by the real estate sector reaping sales of up to $14 billion. This was a 23% increase from the figures achieved in 2011. Therefore, even if the rules have tightened on the mortgages, the commercial real estate sector is sufficient enough to afford higher monthly payments.
Mortgage brokers offer financing in the range of $50,000 to $50 million for commercial real estate projects like multi-unit rental apartments, plants and factories. Even though house starts have slowed down and are expected to remain sluggish in the entire year of 2013, other commercial real estate projects will continue as usual.
According to mortgage expert and CTO of Syndicate Mortgages, Marcus Arkan, “The new mortgage policies have slowed down the mortgage and housing market considerably. This has severely dented the economic conditions of the nation. However, the economical boost due to activity in the commercial real estate sector will help even out the dip in the economy.” He believes that the rate at which the commercial real estate sector is progressing, will help overcome the downward trends of the overall economy.
The commercial real estate sector has actually helped the Canadian economy from sinking low and steadied their progress in 2012. The boost in the economy due to the commercial real estate sector will negate the harmful effects of the change in the policy alterations. As for the next year, all one can do is wait and closely watch the real estate market to grab opportunities that come their way.
To know more about the current mortgages being offered, visit the Syndicate Mortgages website.
About Syndicate Mortgages Inc.
Syndicate Mortgages Inc. is one of the leading Canadian mortgage brokerage firms. Founded in 2008 in Ontario, the company specializes in residential, commercial and construction financing across Canada. With years of experience and expertise in the mortgage industry, and access to an array of lending institutions across Canada, Syndicate is known for finding the best mortgage rates for their customers. Syndicate has branch locations across Canada. For contact, please use the following details.
Syndicate Mortgages Inc.
Toll Free: (888) 646-1062