Research

Canada Real Estate Outlook - Q4 2021

While economic uncertainties remain, 2022 is expected to witness stronger activity in retail and office assets while record industrial demand continues

February 11, 2022
Contributors:
  • Chad Piche
  • Shawna Rogowski
  • Claudia Verno
  • Heli Brecailo

While pandemic related lockdowns have created continued uncertainty, economic growth should remain robust for most of 2022. In turn, real estate fundamentals are expected to strengthen for both office and retail assets while industrial demand is expected to continue at unprecedented levels.

The trends we noticed:

Office market: Canadian vacancy rate continued to increase, albeit at a slower pace

Industrial market: Vacancy registered a fresh historic low as occupancy costs accelerate

Retail market: Retail Recovery Interrupted by Omicron

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