Canadian Real Estate Market Update – Q4 2021

Published February 15, 2022

According to Fiera Capital’s base case economic scenario (Reflationary Recovery – 50% Probability), the global economic recovery continues to grow at an above-trend pace through 2022, without the fear of an aggressive and destabilizing monetary policy tightening event. The global economic recovery lingers on, even in the wake of sporadic virus outbreaks. While COVID-19 dynamics weigh on activity in the near-term, the recovery ultimately resumes as the latest virus wave subsides, activity continues to normalize, and pent-up savings are unleashed. However, given the elevated levels of inflation present and the remote potential of further supply chain disruptions, a “stagflation” economic scenario now has been assigned a 40% probability of unfolding.

While spending activity may be curtailed by COVID-19 induced shutdowns in the first quarter, Canadian household spending should ultimately resume at a healthy pace given strong labour market conditions and an abundance of savings accumulated during the pandemic.

Read our quarterly Canadian Real Estate Market Update, produced by our Strategy, Planning and Analytics team, to learn more about the current state of the office, industrial, retail and multi-residential asset classes and what to expect for 2022.


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