Cheaper land and lower business operating costs are fueling increased demand for commercial real estate and new economic opportunities in smaller Manitoba communities outside of Winnipeg.

Richard Crenian, president of ReDev Properties, noted the trend in a recent blog post. In it, he said many CRE investors “are taking advantage of lower prices in once considered sleeper towns in Manitoba. Investors’ interest has specifically been concentrated on the outskirts of Winnipeg’s Perimeter Highway.”

Crenian also singled out other communities such as Steinbach, Brandon, and Portage la Prairie, which have all attracted the interest of big players.

Availability of land and costs are key driving factors in the interest, Crenian told RENX in an interview. The story is similar to what’s happening in other areas of the country such as Balzac just outside of Calgary, municipalities outside Edmonton and many outlying communities in the Greater Toronto Area.

“People are going to all of these small places because it’s about affordability,” said Crenian.