It has been an interesting year for Canada’s REITs.
The early part of the year was marked by weakness in Alberta, especially the office market. Demand dried up as many oil companies either went bankrupt or downsized.
The rest of the year was dominated by interest rates. First rates crashed with negative rates in Japan and Switzerland making headlines. This sent the price of REITs higher. That was followed by a steady decline in REIT prices as investors speculated the U.S. Federal Reserve would finally hike interest rates.