The financial services sector provides dual momentum for Canada’s resurgent office market — as a tenant ramping up demand for space;, and as a lender loosening access to capital.

Untenable pro formas, skittish lenders and reluctant buyers are intertwined features of a condominium market collapse destined to further complicate Canada’s affordable housing shortage.

Canadian lenders may be reassessing the urgency of decarbonization, but they still express enthusiasm for the sustainable assets and impact investments that appear to be losing cachet in the United States.

Developers, investors, lenders and experts are cautiously optimistic about the real estate sector, according to a recent report from PwC Canada and ULI.