The Value Added of Real Estate in Canada has shown consistent growth from 2013 to 2023, rising from 206.32 billion CAD to 315.9 billion CAD. The year-on-year growth rates have generally stayed within the range of 3.39% to 5.97%, with a noted peak in 2019 at 5.97%. The compound annual growth rate (CAGR) over the past five years leading up to 2023 averaged 4.51%, reflecting steady expansion in this sector.
Looking ahead, forecasts indicate a continuation of positive growth, albeit at a slightly decelerating pace, with the forecasted 5-year CAGR dropping to 2.54%. By 2028, the Value Added of Real Estate is projected to reach 370.92 billion CAD, representing a 13.39% increase from 2023 levels.
Future trends to watch for include:
- The impact of urbanization and population growth on real estate demands.
- Shifts in housing market preferences, including increased demand for sustainable and smart homes.
- Potential economic shifts or policy changes affecting real estate investment and development.
