GVR's forecast for commercial real estate in 2025

Lower borrowing costs have set the stage for modest improvement across most commercial real estate segments in 2025. But continued global uncertainty, particularly around U.S. trade policy, remains a limiting factor. 

GVR Economics' latest forecast suggests 2025 could be a year of careful recalibration for the commercial market, with investors likely to continue being highly selective in their choice of investment and divestment opportunities.

Read the forecast

Key highlights

• Transaction volumes across the Lower Mainland hit a decade low in 2024—down seven per cent year-over-year
• Multi-family and retail assets outperformed other segments, showing that capital is ready, but selective.
• In 2025, we expect slight volume increases in most segments, but economic headwinds will continue to weigh on investor confidence.