GTA Commercial Property Sales Reach $22 Billion in 2019

The total value of property sales across the Greater Toronto Area increased 4% year-over-year in 2019 to $22.3 billion, with the total volume of sales rising 2% from a year ago to 1,423 transactions. Quarter-over-quarter, the total value of property sales increased 35% to $6.7 billion in Q4-2019, with the total volume of sales rising 19% from last quarter to 420 transactions. The total volume of sales increased 11% from Q4-2018, with the total value of property sales increasing by 48%.

In 2019, annual gains were experienced by most regions, including York ($426 million;+16%), Halton ($184 million; +11%), Toronto ($298 million; +3%) and Peel ($119 million;+3%), while Durham Region experienced a modest annual decline of $93,000 (-7%). Annual gains were experienced by all Regions in Q4-2019.

By sector, annual gains were experienced by commercial land ($844 million; + 64%), rental apartments ($1.2 billion; +51%), industrial ($741 million; +24%), apartment sites ($446 million; +15%) and office buildings ($209 million; +4%). Annual declines were experienced by residential lots (-$36 million; -5%), retail (-$267 million; -15%), rural land (-$61 million; -18%), and residential land (-$1.3 billion; -56%).

On trend with 2019, year-over-year gains in Q4-2019 were experienced by rental apartments (+$1.4 billion), office buildings (+$753 million), industrial (+$291 million) and commercial land (+$96 million) in Q4-2019. Rental apartment sales spiked with the Starlight Portfolio of

of 25 buildings & one townhouse complex for a sum of $1.4 billion at $318K per suite. Year-over-year declines in Q4-2019 were experienced by retail (-$7 million), rural land (-$8 million), residential land (-$81 million), apartment sites (-$137 million) and residential lots (-$174 million).