Calgary, Montréal, Vancouver and Toronto have been called the Quartet Cities by a leading real estate consultant that operates on a global level. JLL has released a report called The Canadian Quartet: Playing on the World Stage and in it the above cities are named as key players for international property investors. It's expected that they will become world leaders in the next 5 - 10 years in regards to their commercial investment markets.
According to Brett Miller, JLL Canada's president, the form and the shape of the above cities are changing and offering more opportunities. While the real estate markets are safe and stable right now, during the next 5 - 10 years they are expected to become even stronger and more attractive. At that time, they will have secured a leadership position on a global basis.
These cities have all of the necessary ingredients that go along with success in the eyes of investors. These factors include the capability for innovation, sustainability, livability and transparency. Startups and entrepreneurs will be greatly attracted to the lifestyle and affordability that can be found in Calgary and Montréal. Global appeal for Toronto will be mainly centered on technology and the vibrancy of financial services while Vancouver offers the perfect environment for creating green economies.
The report notes that even though Canadian city markets have earned a reputation for being reliable and steady without a lot of excitement, they are healthy markets that provide positive outlooks for the long-term. Foreign investors are driven to Canada based on its stable economic environment and strong fundamentals for real estate.
Other cities that should also be monitored during the next 10 years include Edmonton, Ottawa, Regina, Saskatoon, Winnipeg, Québec City, Halifax and Hamilton. Edmonton is on the watch list as a major gas and oil centre.