A Year in review
2022 STATISTICS Team
Greetings from CBRE’s Land Services Group, we appreciate you taking the time to review our 2022 Transaction brochure. This has been a tremendous year for our team and as we strive to achieve our clients’ needs, we have continued to grow by adding integral team members to further enhance our capabilities and level of service. It was a strong start to 2022 that continued into the second quarter, after which there was an evident change in the real estate market due to several factors. The speed at which the Bank of Canada increased interest rates quickly cooled both the new and resale housing market and affected all asset classes in some form. The one asset class that did remain resilient throughout the year, however, was industrial land which continued to be in high demand across the GTA. We saw 58 new condo launches in the GTA in 2022 despite interest rates continuing to increase throughout the year. This demonstrated that even with construction costs rising developers were confident that their end unit pricing justified launching in a market with many moving targets. While we saw fewer sales on low rise land in Q3 & Q4 of 2022, we experienced minimal price adjustments on these transactions, however there were adjustments to deal terms including higher percentages of Vendor Take Back Mortgages with a longer interest free period and extended closings. As we head into 2023, we look forward to working with existing and new clients across Canada and to utilize the innovative CBRE platform that has been so successful year over year. CBRE’s Land Services Group is a team for changing times, we are extremely happy with the growth of the team and are proud of the strength that our diversity generates. Thank you to all our clients for your continued support.
37 TOTAL TRANSACTIONS
$870M TOTAL DOLLAR VOLUME
19 MUNICIPALITIES
11
10
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