Canada CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


Quebec  + Canada + Cross Border News  + Finance  | 
Canada's Altus Group has agreed to purchase Houston-based Situs Group's commercial real estate valuation business.

Montreal Investment Continues to Slow Down

Montreal’s commercial real estate investment market is continuing to slow down as interest-rate hikes and rising construction expenses create uncertainty, says a new Altus report.

In the first half of 2023, Greater Montreal investment declined more than 50% year-over-year, said the real estate analytics firm.

In the second quarter, the beleaguered office sector posted a 50% gain in dollar volume, to $246 million, as private investors traded several class A properties. Office availability held firm quarter-over-quarter at 18.2% but remained high year-over-year.

With older office assets in disfavour, sublet space increased to 2.98 million square feet from 2.96 msf in the second quarter as the market experienced a flight to quality.

Apartment transaction dollar volume declined 37% year-over-year in the second quarter to $753 million. Meanwhile, the coveted industrial sector witnessed a 16% drop in dollar volume year-over-year to $488 million.

The retail sector rebounded in the second quarter, posting a 53% year-over-year gain with $263 million in volume.


Inside The Story

AltusMonte Stewart

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

  • ◦Sale/Acquisition
  • ◦Development
  • ◦Financing
New call-to-action
New call-to-action