Canada Real Estate Outlook

Economic headwinds to intensify in the next 18 months

November 23, 2022
  • Claudia Verno
  • Shawna Rogowski
  • Heli Brecailo
  • Chad Piche

Both industrial and retail have remained resilient to softening economic conditions while office conditions have largely stabilized from COVID induced occupancy losses. However, with economic headwinds through the end of 2023 expected, significant uncertainty remains.

The trends we noticed:

Office market: Canada witnessed the largest occupier growth since the onset of the pandemic, but uncertainty remains​

Industrial market: While sales have begun to slow, rental rates have surged at a record pace

Retail market: Apparel, sit-down restaurants, and luxury recover further​

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