Fallout from higher interest rates may continue to subdue multifamily development, but lenders express more confidence in prospects for new purpose-built rental and high-rise condominium projects next year.

Appraisers generally expect office building values to keep slipping over the course of 2023 as a range of factors undermine cash flow, push up cap rates and make investors skittish.

Multifamily asset values appear to be holding steady, but transaction volume plummeted in the first quarter of 2023.

Industry analysts cite Canada’s demographic trends and seemingly chronic housing supply-demand imbalance as fundamentals that should drive robust returns on new purpose-built rental projects.

Nordstrom Canada’s sudden swoosh into the department store drain will leave empty anchor space in some of the country’s top-performing and most prestigious regional malls.

Market analysts typify a second quarter uptick in downtown sublet activity as a spurt, not a glut. However, they project the trend is likely to continue.