68 - Friday, November 4, 1988 - North Shore News

THE CANADIAN real
estate industry will realize
substantial benefits from the
impending Canada-United
States Free Trade Agree-
ment, says Charles St.
Thomas, Senior Vice Presi-

Royal LePage Commercial
Real Estate Services.

“We recognize that to
some businesses there are
very real negatives to free
trade. For real estate, how-
ever, free trade is a win/win

REAL ESTATE

Free trade good, says real estate vp

Thomas, a featured author
in the 1989 Royal LePage
Market Survey, a com-
prehensive analysis and
forecast of residential and
commercial real estate mar-
kets across Canada.

of the impact of the Free
Trade Agreement indicates
the Canadian real estate in-
dustry will benefit through
preferred status exemptions
contained in the agreement,
as well as from the

tivity generated from other
business sectors.

“In the first instance,”
explains St. Thomas, ‘*Ca-
nadians, including real estate
developers, who wish to ex-
pand or invest in the U.S.
will, for the first time, be in

a preferred position.
Through the Agreement,
they will be shielded from
protectionist measures the
U.S. might invoke to control
domestic real estate invest-
ment from other forcign
countries.°’

dent, Business Development, proposition,’* stresses St. A Royal LePage analysis outgrowth of real estate ac-

it is likely the Canadian
real estate brokerage in-
dustry also will experience
numerous spin-off benefits
as Canadian, U.S. and
overseas businesses attempt
to re-position thernselves in
the new marketplace, says
St. Thomas.

For instance, he notes,
more relaxed cross-border
movement of staff wili result
in a marked increase in staff
transfers. This will create an
increased demand for resi-
dential accommodation.
Concurrently, changes in
staffing will impact a
business’s commercial space
requirements,

Businesses attempting to
take advantage of free trade,
or, alternatively, protect
themselves from the increas-
ed level of competition the
legislation will generate, may
initiate the following ac-
tions, all of which will in-
volve real estate decisions:
expand or contract existing
production, distribution or
services facilities; acquire
other businesses, or elect to
be acquired; or, set up
branch operations, either
directly or through franchis-
ing.

: photo Terry
MAUREEN BRAGG, president of the West Vancouver division of the Real Estate Board of Greater Vancouver, on behalf of the board, presents
West Vancouver Mayor Don Lanskai! with a cheque for $6,192 for municipal beautification projects. Directors of the real estate board (left) are seated
on one of the new benches that the donation will pay for. The cheque was presented recenily at the West Vancouver seawalk.

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