(Toronto) The total value of commercial real estate sales in the Greater Toronto Area in the second quarter rose 43% from a year ago, according to a new report.
Posted at 1:15 p.m.
Sales of office, industrial, commercial, multi-residential as well as industrial, commercial and investment (ICI) land in the region totaled $7 billion for the three-month period, up from $4.9 billion a year earlier, the report said. Avison Young report.
The result brought total investment to 14 billion for the first half of 2022.
The report said the industrial sector recorded the highest investment volume during the quarter with 2.6 billion, compared to 1.4 billion in the same quarter last year.
The ICI land category brought in 1.7 billion, down from 1.6 billion a year ago, while office buildings saw 1.1 billion transactions, up from 349 million in the second quarter of 2021.
Multi-residential transactions totaled 1 billion, against 815 million in the same quarter last year while commercial real estate transactions amounted to 696 million, against 725 million a year ago.