![]() “Millions of families rely on farming, but they already lost last year’s crops to the severe drought, leaving them without grain to get through the harsh winter or seeds to sow in the fields. Mawlawi Mutiul Haq Khales, Afghan Red Crescent Acting President, said: The few crops which were planted are likely to face harsh conditions, with La Nina expected to bring drier than normal conditions in the coming months, extending the severe drought into a second year. Hunger is worsening in Afghanistan, with 95 per cent of the population going without enough food to eat every day, according to the United Nations. Field reports indicate that half the ground normally sown with wheat was fallow at the end of the planting window in December. The ongoing drought means that the area planted with winter wheat is well below average. "I think the prices now have certainly stabilized," he said on what the market will look like in the coming months.Kuala Lumpur/Kabul/Geneva, 22 March –The International Federation of Red Cross and Red Crescent Societies (IFRC) is raising grave fears for millions of Afghans and farming communities as fields remain bare of the annual spring crops. While prices aren't expected to drop anytime soon, Lee said they likely won't increase either. ![]() "We didn't have the big boom, and we're not going to experience a big bust," he said. also saw a bump, but not to the same extent as in larger cities, he added. Lee said over the past few years, commercial real estate prices skyrocketed in bigger centres like Toronto and Vancouver. We didn't have the big boom, and we're not going to experience a big bust. It's a stark contrast to other national trends. ![]() ![]() People are concerned about entering the commercial market right now, Lee said, but for the most part, prices in P.E.I. It was the eighth time in less than a year the bank has raised rates, in an effort to stem record-high inflation across the country. The Bank of Canada raised its benchmark interest rate to 4.5 per cent in January. "I really think it's a matter of us getting used to the new normal interest rates of what we anticipate they're going to be," he said. Lee said people have become used to seeing interest rates less than two and three per cent for a few years, but that won't be likely to return anytime soon. (Submitted by Clifford Lee) Higher interest ratesĪs Canada's interest rates continue to rise, realtor Clifford Lee said it's a reality buyers should be preparing for. has largely stabilized and won’t likely see huge jumps in prices anytime soon. Realtor Clifford Lee says the commercial real estate market on P.E.I. ![]() Newly built commercial properties are being snatched up quickly, "sometimes even before a shovel went in the ground," Quinn said. "There is a demand there and the volume is not overly high right now, especially in the Charlottetown area," he said. People wanting to find smaller properties that are less than 1,000 square feet, for example, might face added challenges. Quinn said he's heard from prospective buyers and renters that finding certain commercial places is especially difficult. Now, Tuan said he's started looking in Stratford instead and is hoping to find a property better suited for his needs sometime soon. "We see one or two locations in Charlottetown with space of about 1,000 square feet, the rent about $4,000 something," he said, adding he was surprised to see such high prices. Tuan said he's trying to find a place that's under $2,000 a month, but prices in the few available properties have been two or three times higher. Tuan said he's looking for a building that's 800 to 1,000 square feet to open a Vietnamese restaurant, but so far buildings are either between 300 to 500 square feet or larger properties more than 2,000 square feet.Īlong with a lack of options, rent is also expensive. Nguyen Tuan says he’s spent more than four months looking for a commercial property in Charlottetown to open a Vietnamese restaurant, but hasn’t been able to find anything at the right size or price. ![]()
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