GDP expected to surpass pre-pandemic levels by end of 2021.
Labour shortages and supply chain issues will lead to slow rebound in retail.
Demand for industrial space will remain strong.
ESG prioritized across asset classes in response to extreme weather.
TORONTO, Nov. 17, 2021 (GLOBE NEWSWIRE) -- Colliers, a leading commercial real estate services and investment management company, published its 2022 Canada Outlook today detailing its expectations for the economy and the state of office, retail, and industrial space. The report also examines important themes including the increasing impact climate change and Environmental, Social and Governance (ESG) policies will have on the commercial real estate industry going into the new year.
Since the pandemic began, Colliers has published a series of reports on the recovery of each asset class: office, retail, and industrial. The 2022 Canada Outlook draws on this research to predict key trends that will shape the industry heading into the new year. This year’s report anticipates a more robust economic rebound into 2022 due to a successful vaccine rollout and a steady return to work. However, Colliers’ research also reveals that increasing supply chain woes, labour shortages, high inflation, and rising debt levels and interest rates will make for an unequal and fragile recovery.
“Based on our findings, we expect to see the economic rebound continue into 2022,” said Leo Lee, Director, National Research Operations at Colliers Canada. “The Canada 2022 Outlook also reveals that many of the trends we are starting to see now, including hybrid work models and increased demand for flexible office space, will continue into 2022 as companies implement their return-to-office strategies.”
Additional key findings from Colliers Canada 2022 Outlook include:
- Economic Outlook: The economic rebound will continue into 2022 but growth will slow due to continued supply chain issues and labour shortages.
- Office Outlook: Flexible return-to-office plans with the option for hybrid work will be the way forward.
- Retail Outlook: Labour shortages, supply chain issues, inflation, and the growth of e-commerce will show an unequal rebound in retail.
- Industrial Outlook: Demand for industrial space will remain strong with e-commerce, grocery, film production, manufacturing, data centres, self-storage, etc. all driving demand for space.
- ESG Outlook: Implementing comprehensive environmental, social and governance (ESG) policies will be a priority for landlords, occupiers, investors, and lenders; impact of climate change will drastically reduce developable land, drive up costs for new buildings and improvements to existing buildings.
Find out more by downloading the Canada 2022 Outlook.
About Colliers
Colliers is a leading diversified professional services and investment management company. With operations in 65 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners, and investors. For more than 26 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.6 billion ($4.0 billion including affiliates) and $46 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
Media Contact:
Pamela L. Smith
Director, Corporate Communications, Colliers Canada
Phone: (604) 692-1461 / (604) 787-8872
Email: pamela.smith@colliers.com
