Prospects are looking bright for Toronto real estate, as the latest quarter saw investors spend a record-breaking $4.9 billion in properties in the Greater Toronto Area. This is the highest amount of investing the market has seen since the 4th quarter of 2006, which saw the previous record-holding investment of $3.9 billion. This quarter’s results are unprecedented, being 74% higher than investment at the same quarter last year, and 75% higher than the previous quarter.
All property types, in fact, saw record numbers during this quarter. Office, industrial and retail sectors all soared as they reached $1.4 billion, $1 billion and $1.2 billion respectively. Most of these numbers were driven by a few large-scale deals. Some of these include Slate Properties Inc. buying a large portfolio of office and industrial buildings from GE Capital Real Estate, and the divvying up of notable properties like Dufferin Mall between H&R REIT and KingSett Capital.
Some experts, however, are questioning whether this is a peak and if Toronto real estate investment can keep this kind of momentum going in the long run. It certainly will be affected by Canadian bond rates; these rates will certainly change in the near future, as they usually follow the trajectory of the US bond rates, which have been changing in recent months.
Source: The Globe and Mail
About Lynx Systems Inc.:
Lynx Systems Inc. is a technology consulting company that specializes in assisting real estate companies with their automation needs with a focus on Yardi, MRI and Microsoft SharePoint solutions. Lynx Systems works with clients across Canada and the US to improve productivity and reduce costs by focusing on key processes and by recommending state of the art solutions that streamline operations. Our services include selection, implementation, support, SSRS report writing, training, information architecture and taxonomy, web application development, and branding services, to name a few. https://www.lynxsystemsinc.com
