Commercial real estate deals in the Greater Toronto Area (GTA) rose 43% in the second
quarter from a year earlier.
A report by commercial real estate services firm Avison Young says sales of office, industrial,
retail, multi-residential and industrial, commercial and investment (ICI) land across Toronto
totalled $7 billion for the three months ended June 30, up from $4.9 billion a year ago.
The second quarter results brought total commercial real estate investments in Toronto during
this year’s first half to $14 billion.
The report said the industrial sector saw the biggest gains in terms of investment dollar volume
during Q2 with $2.6 billion compared to $1.4 billion in the same quarter of 2021.
Deals for office properties in Toronto totaled $1.1 billion in the second quarter, up from $349
million in the second quarter of last year. At the same time, retail property deals amounted to
$696 million in the quarter, down from $725 million a year ago.
The commercial property market’s gains in Toronto stand in contrast to the residential real
estate market that has been cooling in recent months as mortgage rates rise.
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