Toronto experienced a slower start to 2017 as overall investment volumes for the first quarter stood at $1.6B, down from $2.2B in Q4 2016, according to the just-released Q1 2017 Capital Markets Insight report from JLL.
Investment in the Toronto office sector was approximately $500M in Q1 as compared to $800M in Q4 2016. The trend is expected to reverse in the coming quarters due to an ever-increasing interest in core properties from domestic and foreign buyers.
Industrial investment volumes in the first quarter were slightly lower than the previous quarter at approximately $340M.
Investment in the multifamily sector remained stable at $155M. The report expects strong multifamily valuations in the year ahead as stable income streams attract more private investors.
Overall, the Canadian economy’s positive momentum of 2016 continued into 2017. Canadian unemployment moved down to 6.7% in Q1 as employment rose in manufacturing, business, building and other support services, wholesale and retail trade, information, culture and recreation.
