Caution Nationally, Momentum Locally
- ClearView Insider
- Jul 21
- 1 min read
Updated: 7 days ago
The Bank of Canada’s latest Business Outlook Survey shows a cooling business climate across much of the country. Hiring and investment plans have softened, and fewer firms expect sales growth in the coming year. Office footprints are under review, and expansion decisions are being deferred in many markets.
But Calgary is charting a different course.
Here at home, we continue to see new-to-market tenants, net migration gains, and demand across flexible office, industrial, and targeted retail. For many, Calgary, and Alberta more broadly, has become the market to reinvest in while pulling back elsewhere.
What’s driving it?
Affordability: Alberta remains cost-competitive for occupiers and investors alike. Demographics: Population growth and talent attraction are giving confidence to both landlords and tenants.
Stability: Alberta’s business environment remains consistent and navigable, especially important as other jurisdictions wrestle with tariff volatility and affordability constraints.
CRE Outlook: Navigating Mixed Signals
National caution reinforces the need for flexible lease structures, resilient portfolios, and disciplined asset planning. But in Calgary, momentum remains, and that’s creating opportunity in a climate where others are holding back.
As always, the real question is not just what the data says—but how it affects your assets, your tenants, and your strategy.
Bank of Canada, Business Outlook Survey – Second Quarter of 2025 (21 July 2025), online: Bank of Canada https://www.bankofcanada.ca/2025/07/business-outlook-survey-second-quarter-of-2025/.
Connect with ClearView Want to understand how macro signals intersect with local opportunity? Let’s talk: info@cvpartners.ca