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Toronto Real Estate Board reports:
Almost 12,000,000 Square Feet Leased In 2008
With 1,184,614 of square feet of space transacted in December, the TorontoMLS system saw a grand total of 11,961,934 square feet of space leased during the whole of 2008, Commercial Council Chair Garry Lander announced yesterday.
This is down eight per cent from the 13,000,883 figure recorded in 2007. "This result demonstrates that the commercial market has not escaped the downward economic pressures of the last several quarters. Nevertheless, it still compares favorably (up three per cent) with the 11,561,720 figure recorded in 2006."
Lease rates for Industrial properties (all size categories) rose marginally in December, to $5.40 sfn from December 2007's $5.38 sfn. Commercial properties leased for an average of $14.63 sfn, up 12% over last year's figure of $13.11 sfn.
Sales Market Highlights
TREB Members reported 32 Commercial/Industrial Sales in December. Of these, 18 were of Industrial properties in all size categories, which averaged $97.65 per square foot. This compares to a figure of $62.11 derived from non-MLS sources.
January 21, 2009 in Toronto Real Estate Update | Permalink
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Comments
Unbelieveable, sales to fall that much. Every where around North America that prices dropped hard, sale have picked up. I think the market is picking up as we speak. Let hope I am right. All the money coming into the financing system should show up somewhere.
Posted by: Richard Stabile | Jan 29, 2009 9:34:52 PM
That number is not bad at all, unfortunately it could be much worse.
Posted by: Buenos Aires Real Estate | Jan 27, 2009 6:42:49 AM
Nice Blog..
Posted by: Toronto Furnished Apartments | Jan 25, 2009 2:23:54 PM
The statistic soprano accrued virtually 2% in 2008 compared to 2007 statistic prices. This is a less less than most were predicting for 2008, but plant, it was a fair respectable period in proper estate in Toronto and the GTA in 2008.It appears the godsend that has been going on since 1995 is over. We are understandably in a buyers industry now and this could remain for at lowest the succeeding 1 or 2 quarters, maybe long. Exclusive instant gift bowman.This is the current informing from TREB on the previous period and period.The cypher toll in Dec of 2008 came in at $361,415, compared to $394,931 in 2007, and $336,217 in December of 2006. For 2008 as a integral, prices averaged $379,347, compared to the $376,236 filmed in 2007, and the $351,941 average in December 2008, compared to the 4,646 taped during the synoptic period in 2007, and the 4,447 filmed in December 2006, TREB President Maureen O'Neill announced today. "Sales for the undivided of 2008 were 74,552, compared to the 93,193 taped in 2007, and the 83,084 filmed during 2006."
Posted by: Condominiums Toronto | Jan 24, 2009 6:24:47 AM
