Commercial Real Estate Investment in Greater Toronto Area Drops 27%

The second quarter of this year saw a 27% drop in commercial real estate investment in the Greater Toronto Area, due to high interest rates, construction costs, and remote work. The office sector was the hardest hit, with an 61% decline in investment from the previous year, and residential investment suffered a 44% decline. The only sector seeing growth was industrial real estate, with a 36% increase in investment compared to the previous year. Despite the challenges, investors remain optimistic due to the limited supply of rental housing and the high cost of housing in the market, although caution remains as the availability rate continues to rise.

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