Altus Group releases Q1 2024 CRE Industry Conditions & Sentiment survey findings
Altus Group Limited (ʺAltus” or “the Company”) (TSX: AIF), a leading provider of asset and fund intelligence for commercial real estate (“CRE”), today released the findings from its Q1 2024 CRE Industry Conditions & Sentiment Survey, a quarterly survey that collects insights on current market conditions and future expectations. The latest survey draws on feedback from nearly 470 seasoned CRE professionals representing over 120 firms in the U.S. and Canada from January 23 to February 9, 2024.
The Q1 2024 CRE Industry Conditions & Sentiment Survey highlights the participants’ perspectives on:
Capital considerations: with cost and availability of capital stabilizing, near-term capital deployment moves into focus amongst U.S. respondents, surging from 7% in Q4 2023 to 25% in Q1 2024, while Canadian respondents remain focused on de-risking existing portfolios.
Transaction intentions over the next six months: majority (80%) of respondents signalled expectations for near-term transaction activity to pick up over the coming six months, indicating intentions to transact (either buy, sell, or both).
Property performance and targeted returns: for the second consecutive quarter, industrial and multifamily remain the most favoured property types with office expected to be the worst performer over the next 12 months. Interestingly, retail overtakes both multifamily and self-storage in terms of net favourability amongst U.S. respondents.
Priority issues: cost of capital remained the top priority issue for a second consecutive quarter; however, capital concerns eased quarter-over-quarter. In the U.S., capital/credit availability still ranks high on the list with expense management ranking higher over Q4 2023, and in Canada, cost concerns (development costs and inflation) are still top of mind.
“The survey findings underscore the intricate relationship between the commercial real estate asset class and the macroeconomy and capital markets, which Altus’ portfolio analytics increasingly validate are impactful drivers of asset performance,” said Omar Eltorai, Director of Research at Altus Group. “With recession concerns moderating and notable improvements in capital expectations, the Q1 2024 survey results show signs that the CRE industry at large has a robust transaction appetite and is anticipating a stabilizing environment ahead.”
To download the full reports by country, please use the following links:
Key contact
Jaime Bassett
Vice President, Global Communications
Key contact
Jaime Bassett
Vice President, Global Communications
About Altus Group
Altus Group is a leading provider of asset and fund intelligence for commercial real estate. We deliver intelligence as a service to our global client base through a connected platform of industry-leading technology, advanced analytics, and advisory services.
Trusted by the largest CRE leaders, our capabilities help commercial real estate investors, developers, proprietors, lenders, and advisors manage risks and improve performance returns throughout the asset and fund lifecycle.
Altus Group is a global company headquartered in Toronto with approximately 1,900 employees across North America, EMEA and Asia Pacific. For more information about Altus (TSX: AIF) please visit altusgroup.com.
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