Commercial real-estate investment grew 48 per cent in 2010, as a stronger economy and surging investor confidence drove investment levels close to their pre-recession highs.
CB Richard Ellis Ltd., a commercial real-estate company, said sector investment in Canada rose to $18.9 billion last year. The market was led by Toronto, which saw staggering growth of 93 per cent to $7.4 billion, with 1,156 total transactions for the year.
"It's almost as if the recession was 20 years ago, instead of just two," said John O'Bryan of CB Richard Ellis. "It was really a coast to coast recovery -something we haven't seen before."
All regional markets except London, Ont., recorded investment increases. More importantly, commercial real-estate investment levels are now nearing their 2005 high of $19.8 billion. Total transactions for the year rose to 4,589 in 2010.
On a regional basis, the value of its transactions in Toronto doubled from $3.8 billion in 2009 to $7.4 billion last year. In Vancouver, 1,263 commercial real-estate transactions took place in 2010, valued at over $2.9 billion, which is relatively unchanged from 2009.
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