2021 is going to be a big year for real estate investment. As the COVID-19 pandemic settled slightly in the last three months, $14 billion worth of commercial real estate has changed hands in Canada.
This is a 29 percent increase over the last quarter and sets that market on track to possibly hit $50 billion in commercial real estate sales before the end of the year. this would be a new record, and the report from the CBRE group says that it was largely driven by apartment buildings and warehouses.
Retail space and office buildings also saw some renewed interest, but much less than the other two categories. This seems to suggest that real estate investors are gravitating towards properties that have remained relatively resilient throughout the pandemic.
Source: BNN Bloomberg