News Formal

GTA Commercial Real Estate Investment Plunges 34% in Q3

  • 📰 storeyspub
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 74%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

The rising cost of borrowing is putting a strain on commercial real estate as well as residential. altusgroup | realestate realestatenews GTA Toronto

2:11 PM Nov 22, 2022

The Bank of Canada has raised interest rates a total of six times since March in order to combat soaring inflation. That has brought the benchmark cost of borrowing from a pandemic-era low of 0.25% to 3.75% today, a level not seen since April 2006. That has effectively thrown cold water on buying and investment intentions at all levels of the real estate market.

The office sector also remains a strong standout, with total investment doubling that of 2021 thus far at $3.5B. However, as Altus points out, this figure gets a notable boost by the sale of

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 16. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

New Home Sales in GTA “Much Improved” as Buyers Return to the Market: BILDFollowing a sleepy September, the GTA’s new home market showed signs of life in October - although still well below the monthly norm. bildgta | altusgroup | Toronto realestate realestatenews realestatemarket
Source: storeyspub - 🏆 16. / 74 Read more »