Stabilizing demand and a lower volume of industrial construction is narrowing the gap in price for serviced and unserviced industrial land in the Calgary market.

While overall prices per acre have risen, the gap between serviced and unserviced industrial land as closed in the past four years, commercial brokerage Avison Young reported on August 16.

Serviced industrial land is currently trading at approximately $650,000 an acre, up from $500,000 in mid 2021.

Unserviced industrial land, located primarily outside city limits, is approaching $600,000 an acre, up from $400,000 an acre in mid 2021.

Demand for industrial land is high in the Calgary market, with the majority of supply located northeast of the city in Balzac in Rocky View County as well as surrounding county lands on Calgary’s eastern flank.

Strong demand from owner-occupiers for properties to meet their outside storage needs, including oil service and manufacturing as well as trucking companies, have helped narrow the gap, Avison Young.

“We anticipate the price gap will further narrow as more users absorb more space and as servicing costs continue to increase, pointing to the desirability of both serviced and unserviced land,” Avison Young said.

Constraints on Calgary’s industrial land supply are underscored by Avison Young’s second-quarter report on the city’s industrial market, which indicates that just 65 industrial land sales with an aggregate value of $185 million occurred in the first half of the year.

Barring the pandemic year 2020, this was the lowest tally in a decade.

Yet the demand for industrial space, serviced or unserviced, is underscored by a recent report for brokerage JLL.

JLL data indicates Calgary bucked the trend of rising vacancies seen in many markets this year as the pace of new construction slowed.

“Construction deliveries significantly reduced to 179,967 square feet compared to 2.2 million square feet in Q1 2024,” JLL reported August 8. “Steady demand and a reduction of new vacant space delivered to the market in Q2 resulted in downward pressure on vacancy.”

Vacancies marketwide averaged 3.5 per cent in the second quarter, while availability sat at 5.3 per cent.

Balzac continues to have the highest vacancy rate of 5.5 per cent due to significant recent deliveries. The situation is likely to remain unchanged for the foreseeable future as 64 per cent of the 2.7 million square feet under construction in the Calgary market is happening in the Balzac submarket.

However, the volume of industrial space under construction in Calgary has declined by more than 60 per cent over the past year, promising better times ahead as deliveries decline and demand stabilizes.

“Demand remains strongest among mid and small bay users and developers are expected to respond with more projects geared towards these users,” JLL reported.

温哥华的酒店入住率在6月下降，但客房价位继续上涨，使大温区域连续第二个月成为加拿大最昂贵的酒店房间市场。

根据全球房地产新数据，6月的温哥华酒店房间平均价格为$336.53，比2023年6月的$318.92上涨了5.5%以上。这是大温地区有史以来第三高的平均每晚酒店房价，仅比9月份的$336.78低0.25加元，后者是大温地区第二高的酒店房价。温哥华在去年7月创下的$347.15加元的平均每晚房价是该地区历史最高纪录，也是加拿大任何大都市在任何月份的历史最高纪录。

高昂的酒店房价可能会阻碍潜在游客的到来。

与去年一样，蒙特利尔在6月成为加拿大第二贵的酒店市场，仅次于温哥华，超过了排名第三的多伦多。蒙特利尔游客在6月每晚支付了$304.14加元，比2023年6月的$302.71价元上涨了不到0.5%。而选择在Hogtown（多伦多）住宿的游客则每晚支付$286.44加元，比一年前相同月份的$288.44下降了不到0.7%。

6月酒店房价涨幅最大的城市是阿尔伯塔省会Edmonton，这可能与动态定价以及对国家冰球联盟埃德蒙顿Oilers的兴趣有关，该队在该月进行了四场主场比赛。随后在Florida洲的Stanley Cup决赛第七场比赛中输给了Florida美洲豹队。

然而，埃德蒙顿的游客仍然享受了相对便宜的房价，整个月的房价平均为$150.68，是加拿大主要大都市中最低的。不过，这比2023年6月游客支付的$136.76上涨了10.2%。

如果将市中心区域单独比较，温哥华的市中心酒店房间价格在6月以$407.46加元位居加拿大之首，超过了多伦多的$388.29加元。温哥华的价格比2023年6月上涨了4.7%，而多伦多市中心的酒店房价则比去年6月的$390.82下降了0.6%。

对于温哥华旅游业来说，令人欣慰的是6月的酒店房间供应量比2023年6月有所增加。2024年上半年与2023年同期相比情况也是如此。

今年前六个月，我们看到大温哥华地区的供应增加了1.5%，而需求下降了1.4%（以总住宿晚数计算），所以总体来看，这导致了不到3%的入住率下降。然而，在6月份，大温哥华地区的酒店入住率下降幅度更大：从2023年6月的89%下降了5.4个百分点，降至83.6%。

在大温区域中，对区域酒店入住率影响最大的是温哥华机场的子区域。该区域围绕温哥华国际机场，包括了Fairmont Vancouver Airport hotel以及许多位于列治文的酒店。

其中的388间房的Radisson Blu Vancouver Airport hotel就在这一组酒店中，它在2023年6月进行了翻修。Radisson hotel在去年7月重新开业，并保持开放，这意味着今年该子区域的酒店房间数量明显比去年更多。与此同时，当地还有40余酒店工人罢工，这可能使一些潜在客人不愿预订这家大型酒店。因此，温哥华机场酒店区域在6月的入住率比2023年6月下降了12.4%。

Fraser Valley的酒店入住率趋势与温哥华机场酒店子市场类似，6月份同比下降了12.4个百分点。68间房的Holiday Inn Express & Suites Chilliwack East今年开放，而去年没有对外开放。

与2023年6月相比，游客在6月购买的大温区域酒店房晚减少的一个原因是疫情后的强烈旅行需求趋势已经消退。这种现象，也就是有人称之为‘报复性旅行’的趋势，现在正在减退。 现在的情况正好相反，在过去几年里，很多人花了很多钱用于旅行，因此当人们开始收紧开支时，他们不得不重新调整优先级，减少了旅行支出。