Private buyers prop up industrial demand amid commercial real estate slump

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Keith Reading, Morguard’s senior director of research, said: “The ongoing high interest rates continue to impact the real estate market, leading to increased costs of debt and widening of the gap between seller and buyer price expectations.”

However, he added that with inflation stabilizing: “the Bank of Canada vigilantly monitors economic progress for rate cuts. This provides a solid foundation for real estate poised for growth, supported by investor confidence across various real estate sectors.”

The central bank kept its key rate on hold in Q1 as the economy showed resilience and consumer price growth slowed modestly, though inflation remained elevated due to high rental and mortgage costs.

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