Bright waters condos.GTA ‘s top ten CRE transactions. As a result of the economic blockade of COVID-19 in (GTA) in the Greater Toronto area last spring, it is not surprising that the top 10 commercial real estate transactions in the region in 2020 took place in the first two months and the last three months of this year.Please Visit: Bright waters condos. to Get Your VVIP Registration Today!
Ray Wong, vice president of data operations for data Solutions, talked to RENX about the GTA market last year and its prospects for 2021. Altus also compiled a list of the top 10 deals for 2020.
“there is an appetite in the market, but investors are looking for properties that can be repositioned or expanded, especially if there is extra land on the land to get higher returns,” Wong said. ” “the challenge in the market is the availability of the product and how it fits into the entire portfolio.”
Although year-end figures for 2020 are not yet available, as of the first three quarters of this year, there were 1432 commercial real estate transactions worth $11.31 billion in the Greater Toronto area. By comparison, there were 1647 deals worth $14.81 billion in the same period last year.
Although the number of transactions fell by 15.4 per cent, total industrial output increased by 5.5 per cent in the past three quarters compared with 2019. Due to the increase in e-commerce activities, the demand for warehouse and logistics space has increased, and industrial rental rates continue to rise.
“Industrial interest comes from investors and residents,” Wong said. He points out that data centres and cold storage facilities have also attracted more attention.
Residential land transactions have traditionally been among the top three asset classes and will remain unchanged by 3/4 by 2020.
“this bodes well for GTA because it shows confidence in the future of development and future growth,” Wong said.
Wong said activity increased in October and November compared with the second and third quarters, and he expected revenue in the fourth quarter to remain strong, although lower than in 2019.
Wong said that looking ahead to the second half of the year, “there is a lot of money on the market for acquisitions”, but the gap between what the seller is looking for and what the buyer is willing to pay could delay some deals.
He expects trading activity to increase as investors see the market stabilise and return to the “new normal” as concerns about pandemics ease as the availability of COVID-19 vaccines increases.
Any certainty in the market will increase investment activity. We saw this last year when you compared March, June and November. “