Simon Kronenfeld: What are the perspectives of the commercial Real estate market?

commercial Real estate market

When it comes to evaluating Canada’s biggest markets, the real estate market and its associated financial industry are always at the forefront of making major waves and changes in the business world. Increasing in demand over the past several years due to the pressures of post-pandemic work-life balance and showing no signs of slowing down, the real estate market across Canada is one of the country’s most prosperous, and most volatile, markets.

Among all the facets of Canada’s real estate market, commercial real estate is one of the most high-traffic and constantly evolving industries. Experts such as Simon Kronenfeld, an experienced leader in the real estate field, are aware of the shifting pressures of Canada’s commercial real estate industry, and have been putting their skills to the test over these past few years to come out ahead of the curve with valuable advice for potential future investors.

Canada’s Real Estate Market in 2022

Coming off the momentum of 2021’s high-pressure real estate market, the commercial real estate market in 2022 continued to see increased traffic across Canada. While sellers experienced a marked increase in sales and growth opportunities, buyers throughout the country were faced with shortages in purchase opportunities, as well as lower interest rates.

Meanwhile, major Canadian cities continued to experience much higher prices compared to previous years, pushing many properties across the country across the threshold of luxury purchases.

Biggest Factors Influencing Canada’s Commercial Real Estate Market

One of the biggest factors influencing Canada’s commercial real estate market is the increase in demand for multi-unit rental properties. With increasingly climbing rates among the country’s residential real estate, more and more people are turning to multi-unit rental opportunities in search of affordable housing. As demand for such properties increases, more commercial investors are seeing profits and returns on their investments.

According to Simon Kronenfeld, commercial real estate is one of Canada’s fastest-growing industries so far in 2022. Another potential factor influencing this rapid growth is the all-time record of vacancies in the industrial real estate sector, due in large part to the effects of the pandemic and the work-from-home status quo. As the need for industrial properties becomes increasingly replaced with the need to accommodate more hybrid space for a work-from-home culture, commercial real estate continues to rise to the forefront of Canada’s real estate market.

Predictions Going Forwards

With the perpetual upward climb of the present-day status of Canada’s commercial real estate market, predictions of those looking ahead into the new year center around a continued relevance and increase in revenue on the market. As residential, commercial, and industrial prices continue to rise in major Canadian urban and metropolitan centres, interest and growth in rental opportunities in suburban markets across the country continue to rise to offset decreased affordability in urban areas.

One of the biggest factors likely to affect this continued increase in interest and revenue of Canada’s commercial real estate market is the fact that the costs of maintaining profit in this industry are higher than residential as a baseline. Elements such as mortgage rates, asking prices, and down payments of commercial properties are almost always more expensive and in higher demand than their residential counterparts, meaning an increase in commercial real estate profits across the country for years to come.

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