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GTA Commercial Real Estate Investment Plunges 34% in Q3

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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

 

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