Canada's commercial real estate market will execute a soft landing later this year, as large investors return to the market in the wake of the Bank of Canada's pause in interest rate hikes, according to a new report from CBRE.
CBRE projects that Canadian CRE investment could reach a record high of more than $44B in 2023—at the very least it is expected to be equal to or greater than the totals in each of the past two years. However, CBRE cautions that the near-term looks "bumpy."
Canada's CRE market took a roller coaster ride in 2022, setting investment records in H1 2022 and then—after eight consecutive rate hikes by the central bank, which had told everyone it wouldn't raise rates before the end of the year—the pace of CRE investment slowed considerably in H2 2022.
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