CANADA – QUÉBEC Trends and Developments Contributed by: Eleonora Eusepi and Bruno Burrogano, BCF Business Law LLP
Outlook As interest rates ease and macroeconomic conditions gradually stabilise, Québec is positioned for a meas - ured and gradual recovery in both transaction activ - ity and new development starts across the principal asset classes. Multi-residential and industrial assets are expected to lead the market recovery, support - ed by the structural demand drivers outlined above. Office and retail sectors require further repositioning, through capital investment, repositioning strategies, and in some cases physical reconfiguration or alter - native-use conversion, before they can be expected to return to consistent performance. Regulatory complexity regarding housing regulations at the federal, provincial, and municipal levels; evolv - ing environmental and energy efficiency standards; agricultural land reforms; and continuously evolving municipal planning frameworks, remains a defining and increasingly significant aspect of Québec’s real estate environment. This complexity is not solely a constraint; for well-advised and strategically posi - tioned stakeholders, it also creates competitive advantages and barriers to entry that can support superior risk-adjusted returns.
Stakeholders who successfully integrate regulatory compliance planning, credible ESG considerations, and adaptive development and asset management strategies will be best positioned to navigate current market conditions and to capitalise on the opportuni - ties that a gradually recovering Québec real estate market continues to present.
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