The Altus Group recently released a report about the status of Canada’s CRE industry during the first half of 2022. It’s good news and hopeful to be exact:
🔸️The most active asset class was land (ICI & residential) = $19 billion of investment (1st half of 2022)
🔸️The second most active asset class was the industrial asset class = $11.8 billion (1st first half of 2022)
🔸️Investor interest in retail assets = $5 billion (an increase of 31% from the same period in 2021, due to consumers slowly returning to in-person shopping & the GTA registered the highest ever investment totals in the 1st half of 2022)
🔸️Investment activity in the industrial asset class = $2.5 billion (2nd quarter of 2022) and was the most investment dollar volume ever recorded in a single quarter for industrial properties
🔸️Total industrial investment in the first half of 2022 = $4.1 billion (with most investors interested in industrial land & food-anchored retail strips within the Toronto market)
There’s been lots going on. I hear it. I see it. However, rising interest rates and high construction costs could impact growth and investment activity, throughout the rest of the year. Can’t wait to see the numbers for the 2nd half of 2022. Closing out the year on a high…now that would be sweet for everyone!
