2021 concluded with positive market sentiment, evidenced by the absorption of 0.34 mil sq. ft. in the last quarter of the year, the highest since Q4 2019.
On the back of stronger demand and prevailing tight vacancy in the City Fringe submarket, rents in this submarket rose for the third consecutive quarter.
Amid improved retail market sentiment and improving occupancies, retailers are cautiously optimistic in view of the economic growth and an eventual return of tourist spending.
Preliminary data shows 3,013 new private homes (excluding ECs) were sold in Q4, which brings the full year 2021 new home sales to 13,022 units, highest since 2013.
On the back of improving occupancies and strong leasing activity, industrial rents across all segments inched up further.
A strong Q4 brings investment volumes for full year 2021 to $27.837 bn, more than double 2020’s volumes.