Greater Toronto multi-residential

investment review

Mid-year 2023

Year-over-year investment activity in the GTA multi-residential market decreased in the first half of 2023, as vendors’ price expectations have been slow to respond to rising interest rates. The spread between vendors’ expectations and buyers’ access to capital remains the primary reason for the decrease in transaction activity. A total of 3,029 units traded in the first half of 2023, down from 7,230 units during the same period in 2022 –representing a 58% decrease in unit volume year-over-year, but a 16% increase compared with the second half of 2022. However, there is still strong demand for well-priced, quality multi-residential assets. If interest rates remain stable, the market has the potential to achieve levels of investment activity closer to historical norms during the second half of the year.

total multi-residential investment volume during the first half of 2023

down 52% year-over-year


number of investment sales transactions during the first half of 2023

up from 52 in the second half of 2022


average capitalization rate for multi-residential assets

up 40 bps year-over-year

Your source for the latest Toronto multi-residential market reports

Get in-depth multi-residential market reports and insights from commercial real estate experts in the Greater Toronto area. Avison Young advisors look at Toronto commercial real estate activities and the latest Toronto statistics to provide you expert market research on Toronto's multi-residential properties.

Explore different topics like the latest multi-residential market pricing trends and analysis of Toronto's current multi-residential real estate market conditions. Gain a better understanding of Toronto’s multi-residential real estate outlook and stay ahead of current multi-residential space trends. Make smart decisions when it comes to investing in multi-residential properties in Toronto's competitive multi-residential real estate market. Avison Young is your trusted source for commercial real estate multi-residential market insights in Toronto.

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