According to RealNet, this is not a full-blown recovery, but the sector is seeing encouraging trends ‘across the country’ in renewed transactions. As per the Globe and Mail:

Canada’s commercial real estate market is on the mend, as an 18-month slump in Toronto has ended and other urban centres are showing signs of renewed activity that suggest the sector has de-coupled from its troubled U.S. counterpart.

After almost two years of flat or declining activity, industry tracker RealNet Canada Inc. said investments in commercial property in the Greater Toronto Area increased by 46 per cent in the third quarter over the second quarter, to $1.31-billion, while the number of transactions increased by 20 per cent.

The Globe and Mail article seems to go against the October 16 2009 report by Statscan, which says:

Investment in non-residential building construction reached $10.4 billion in the third quarter, down 3.9% from the second quarter. This was the third consecutive quarterly decrease attributable largely to lower spending on commercial and industrial building construction.

While nine provinces recorded decreases in commercial investment, the most significant declines occurred in Alberta (-13.2% to $1.4 billion), Ontario (-6.5% to 2.2 billion) and British Columbia (-10.8% to $785 million).

I’ll leave it to you to decide how to interpret this information, and which source to trust more.

Developments featured in this article

More Like This

Facebook Chatter