The Canadian economy has adjusted since 2015 when lower oil and commodity prices played a hand in dropping the GDP growth rate to just under 1%.
Largely due to fiscal and monetary stimulus, stronger consumer demand and housing activity, the GDP growth rate rebounded to 3.0% in 2017 and is projected to slow to a more sustainable pace of 2.3% in 2018.
Investment in the GTA commercial real estate market reached $5.6B, an increase of 22.4% in capital flows from the same period the previous year.
The large influx of immigrants is an attributing factor to the GTA's surge in commercial real estate activity, which will likely continue as Canada will be accepting nearly one million immigrants over the next three years. Approximately 30% of all Canadian immigrants settle in the Toronto CMA.