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Peter Cuthbert, Fiera Real Estate president and head of global real estate. (Courtesy Fiera)
Last year’s Canadian commercial real estate return was the worst since the recession of 1993, according to the 2020 MSCI/REALPAC Canada Property Index.
The total return plummeted from 6.68 per cent in 2019 to negative 4.12 per cent in 2020. Data has been collected since 1985, and the total average return since then has been 8.5 per cent, to put the numbers in perspective.
“Real estate suffered a down year,” MSCI executive director Simon Fairchild said during the virtual MSCI/REALPAC Canada Real Estate Investment Forum sponsored by Avison Young on Feb. 2.