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Canadian Commercial Real Estate Market Outlook Remained Steady in Q4 2023: Morguard
Canadian Commercial Real Estate Market Outlook Remained Steady in Q4 2023: Morguard Can...
About this update from Morguard Corporation
[{"type":"text","content":"\n \n \n \n Canadian Commercial Real Estate Market Outlook Remained Steady in Q4 2023: Morguard\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Canadian multi-suite residential rental property rent growth moderated during the fourth quarter.\n \n \n Supply constraints eased slightly in the industrial leasing market due to a wave of new supply and demand moderation.\n \n \n The challenging office leasing market environment continued to unfold.\n \n \n Investors exhibited confidence in the retail property sector, resulting in the sale of interests in two significant greater\n \n Toronto\n \n area shopping centres.\n \n \n \n \n \n MISSISSAUGA, ON\n \n \n ,\n \n \n Feb. 12, 2024\n \n \n /CNW/ - The Canadian commercial real estate sector garnered a steady level of interest overall amid economic uncertainties during the fourth quarter of 2023, according to Morguard's 2023 Economic Outlook and Market Fundamentals Fourth Quarter Update (\"Morguard\") (TSX: MRC). All in all, multi-suite residential rental, industrial and retail properties exhibited continued strength and resilience and positive performance momentum. Moving forward, easing inflation and interest rate pressures will play a role in both the industry and overall economic growth in 2024.\n \n \n \"Industry gains are anticipated once again in 2024, as inflation and interest rate pressures moderate and investment confidence levels build,\" said\n \n Keith Reading\n \n , Senior Director, Research at Morguard. \"\n \n Canada's\n \n economic performance and the central bank's projected rate cuts are crucial factors to keep an eye on as the industry forges ahead.\"\n \n \n \n Multi-Suite Residential Real Estate\n \n \n \n The growth cycle for Canadian multi-suite residential rental properties exhibited signs of moderation during the fourth quarter after reaching its peak over the recent past. Rent growth slowed in the nation's most expensive rental markets, namely\n \n Toronto\n \n and\n \n Vancouver\n \n . Contrarily, above-average rent growth was reported in\n \n Alberta\n \n ...