GTA Property Transactions: The COVID-19 pandemic continued to impact the GTA investment market in QTR3 2020, with transaction volumes -23% lower than QTR3 2019.
Property Transactions by Quarter and Sector: Compared to the previous quarter the Office, Retail, Apartment, ICI Land and Residential Land sectors saw growth in Q3 2020.
Office Transactions: Office markets struggles continued in Q3 2020, with its third consecutive quarter with transaction volumes below $500Mil as work from home initiatives continued in many offices.
Retail Transactions: While retail investments rebounded in Q3 2020 relative to their low second quarter of 2020, investment activity was still -5% below Q3 2019.
Industrial Transactions: The industrial market pulled back in the third quarter of 2020, after a record setting performance in Q2 2020, however a demand for industrial space, particularly warehouse and distribution remains strong.
Apartment Transactions: The apartment market saw consecutive quarter-over-quarter decline after setting a record high in Q4 2019, however, demand for multi-family investments remains relatively strong.
Hotel Investment: Hotel investments have been inconsistent over the past two years, though Q3 2020 did register one transaction worth $10,000,000.
ICI Land Transactions: While ICI Land investment activity was down -50% year-over-year in Q3 2020, the recent trend in declining volumes was reversed.
Residential Land Transactions: Residential Land activity was up relative to both the previous quarter and Q3 2019, however investment volumes are still well below the peak in 2017.
Residential Lots Transactions: After a strong performance in the previous quarter, investments in residential lots declined to more typical volumes in Q3 2020.
Click here for a copy of the QTR3 2020 Commercial Market Update report by Altus and TRREB.