Commercial real estate and land investment in the Greater Toronto Area has recorded its best third quarter ever, according to RealNet Canada.
The report reveals that there were 535 transactions over $1 million with a total of $3.6 billion, which was the same as the second quarter of this year, but up 15 per cent from the Q3 2014 and 27 per cent above the 10-year average.
The residential land sector was the main driver of these gains, contributing 34 per cent of the overall total with a record $1.2 billion, a 45 per cent gain on the same quarter in 2014.
More than half of the land investments in the GTA were for low-density developments. Foreign investment was another important factor in the record quarter.
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