As Christmas Eve approaches, Citysearch would like to wish all our owners and tenants a very happy holiday season and all the best in the New Year. We eagerly look forward to 2016 for big changes to come, hopefully positive ones! The past year has been a difficult and trying time for our owners and tenants working within the oil and gas industry which has, in turn, greatly affected our business and what we do.
Vacancy rates have increased and rent prices have drastically declined as supply is high and demand is low. We hope the market will correct itself in 2016 although just today I heard OPEC suspects another 25 years until oil reaches $95.00/barrel again.
Calgary is a tough, resilient and ever changing city, we’ve survived boom/bust type economies for decades and this ‘bust’ is no different. We will remain strong!
From all of us here at Citysearch:
Happy Holidays and Happy New Year!!