Canadian commercial real estate investment could reach high of $59B in 2023: CBRE
By The Canadian Press on February 28, 2023.
TORONTO – The outlook for commercial real estate looks bumpy in the near term, but a soft landing could still be in the cards. CBRE’s Canada Real Estate Market Outlook forecasts challenges such as tougher financing conditions and a potential economic slowdown inhibiting some investors. The commercial real estate company expects one to two quarters of slowed investment before activity rebounds in the spring. It says large investors are targeting real estate and that more certainty for interest rates should be a boon for the industry over the long-term. That interest means commercial real estate investment in Canada could reach an all-time high of $59.3 billion this year, spurred by greater merger and acquisitions activity. Commercial real estate investment totalled $58.5 billion in 2022 which nearly matched the record volume set in 2021. This report by The Canadian Press was first published Feb. 28, 2023. 8-7
