We are loving what’s going on in the Waterloo Region real estate market! Strong demand is trumping the rate hikes we have seen through 2022. Lack of supply of industrial space keeps driving the rental rates.
Office activity is finally waking up and companies are figuring out what their midterm office requirements look like. The investment market has substantially slowed due to rising rates. Vendor mortgages are becoming more common for vendors with small or no mortgages. The rapid growth in value, has many larger investors of real estate thinking this is a good time to sell these assets.
Rate increases have definitely had their effect on the residential market, as sellers and buyers are a little unsure of what the future holds.
As we enter 2023, we feel that the momentum in the real estate business will continue in all sectors. We are lucky to live and work in such a dynamic region. Our tech and financial service sectors continue to grow and expand, which is driving companies’ space needs.
Thank you Waterloo Region for a strong ending to 2022 and hello 2023, we love the direction we are going.
Broker of record, ceo, sior