Marie-France Benoit is Avison Young’s director of Canadian market intelligence. She will be a guest speaker at Connect’s Canada Kick-off in Toronto on June 11. In this interview, Benoit provides her insights on the Canadian commercial real estate investment marketplace.

What is it like trying to read the market in these challenging times?

While there are still challenges, new patterns have emerged, making it easier to read market trends now, compared to three or even two years ago. Even the office market’s future seems clearer.

How do you think an interest-rate reduction will affect the market?

Changes in interest rates will take time before we can feel their full impact, just like the 2022 increases in policy rates, which were felt in 2023’s decline in investment activity.

Moving from the 2023 context of rates either going up or remaining stable, to a context, 2024, where the scenarios are stability or reduction in the coming months, will be positive for the market.

What markets do you see as being underserved?

Asset classes driven by demographics and lifestyle changes are worth taking a closer look at because demand can be analyzed: Self-storage, student housing, data centres. That said, each opportunity is uniquely based on specific characteristics and vendor motivation.

Get Ready for Canada Kick-off

Connect CRE will hold its inaugural Canada Kick-off Event in Toronto on June 11. This will be Connect’s first commercial real estate industry conference in Canada. Panelists will include Syl Apps, managing director and co-country head for Hines; Lindsay Brand, chief investment officer at Concert Properties; Mark Kenney, CEO of Canadian Apartment Properties REIT; and, Marie-France Benoit, Avison Young’s director of Canadian market intelligence. Come and gain insights from industry leaders on such matters as buyer sentiment amid a lower interest-rate environment, cross-border commercial real estate transaction trends, and investors’ outlook for 2024 and beyond. Register today.