GTA Investment Rises 6%, Land Sales Up 52%
AI Article Summary
In the Greater Toronto Area, commercial real estate investment increased by 6% in the third quarter compared to the previous quarter, although it fell 6% year-over-year. Land sales saw a significant rise of 52% quarter-over-quarter, with 1,515 acres traded. Despite an increase in transaction totals, year-to-date investment figures are down 11% compared to last year. Avison Young anticipates increased deal activity in the coming quarters due to mortgage renewals, but current market conditions may continue to dampen activity levels.
What This Means for Canadian Contractors
For Canadian builders, this means an opportunity to engage in more land acquisitions, as indicated by the rise in land sales. However, the year-over-year decline in overall investment signals potential challenges in securing funding. Builders should also prepare for fluctuating market conditions that could affect demand and timelines as mortgage renewals approach.
