Commercial real estate transactions in the Toronto area total $7 billion in the second quarter, up 43% from a year ago

TORONTO – A new report indicates that the total value of commercial real estate sales in the Greater Toronto Area in the second quarter increased 43% from a year ago.

Avison Young’s report indicates that sales of office, industrial, retail, multi-residential and industrial, retail and investment (ICI) land in the region totaled $7 billion for the three-month period, up from 4, $9 billion a year earlier.

The result brought total investment to $14 billion for the first half of 2022.

The report said the industrial sector recorded the highest investment volume during the quarter with $2.6 billion, compared to $1.4 billion in the same quarter last year.

The ICI land category brought in $1.7 billion, down from $1.6 billion a year ago, while office buildings saw $1.1 billion in transactions, down from $349 million a year ago. second quarter of 2021.

Multi-residential transactions totaled $1 billion, compared to $815 million in the same quarter last year and commercial real estate transactions totaled $696 million, compared to $725 million a year ago.

This report from The Canadian Press was first published on August 18, 2022.

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