GTA REALTORS® Report fourth quarter of 2014 Commercial Market Figures

Members reported 5,120,001 square feet of leased industrial, commercial/retail and office space 


Toronto Real Estate Board President Paul Etherington announced that TREB Commercial Network Members reported 5,120,001 square feet of leased industrial, commercial/retail and office space during the fourth quarter of 2014.

This result was down by five per cent compared to the fourth quarter of 2013. The amount of space leased was down for the industrial and commercial/retail segments
and up for the office segment.

Average lease rates for properties leased on a per square foot net basis (where pricing was disclosed) were little changed compared to Q4 2013 for industrial and office properties. The average lease rate for commercial/retail properties was up on a yearover-basis. Generally speaking, average lease rate increases or decreases result from both a change in market conditions and a change in the mix and type of properties leased from one year to the next.

“The third quarter result for Canadian Gross Domestic Product represented relatively strong economic growth and included an increase in exports, which is a positive for many businesses operating in south central Ontario. Notwithstanding the stock market turmoil experienced during the fourth quarter of 2014, it is quite possible that the lower value of the Canadian dollar could prompt further demand for Canadian exports. This could lead some GTA firms to step up their search for new space as the demand for their goods and/or services increases,” said Mr. Etherington.

Total commercial sales in the fourth quarter, at 243, were down in comparison to the same period last year, when 336 properties were reported sold. While the number of transactions were down, average selling prices on a per square foot basis (where pricing was disclosed) were up for industrial and office properties, and down only slightly for commercial/retail properties.

“Looking forward through 2015, the Greater Toronto Area continues to be a global region with a diversified economy and a high quality of life. These attributes will continue to put the Toronto area in good stead, as it relates to attracting businesses and new comers from around the world,” continued Mr. Etherington.



Media Inquiries:
Mary Gallagher, Senior Manager Public Affairs
(416) 443-8158 maryg@trebnet.com



Greater Toronto REALTOR'S® are passionate about their work. They adhere to a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Serving over 39,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board.
Greater Toronto Area Open House Listings Are Available on www.realestatesnatch.com
Read more from Real Estate Snatch Post blog:

No comments:

Get Real Estate Tips

linkwithin...

About Us

Get Free Email Updates to your Inbox!

REAL ESTATE SNATCH is the independent real estate blog of Samir Safadi, Sales Representative of West-100 Metro View Realty Ltd, brokerage it is dedicated to covering Real Estate News, digital culture, social media and technology, providing analysis of trends, Market Data , reviewing new development. Offering Real Estate services resources and guides. Services are provided to prospective buyers and sellers of real estate by Samir Safadi, Sales Representative, West-100 Metro View Realty Ltd, brokerage, duly registered in the province of Ontario, under Real Estate and Business Brokers Act, 2002 (REBBA 2002) and Member in good standing with



©Copyright 2009-2017 REAL ESTATE SNATCH All Rights Reserved Registration on or use of this site constitutes acceptance of our

Search This Blog