Despite observing quarter on quarter growth to Q4, the overall performance for the year was weak, marking the lowest calendar year volume since the pandemic-affected year of 2020 and the second lowest since 2015. Similar to the trends observed in 2022, inflation and interest rates played pivotal roles in shaping the economic environment and subsequently influencing the commercial real estate sector.
Despite observing quarter on quarter growth to Q4, the overall performance for the year was weak, marking the lowest calendar year volume since the pandemic-affected year of 2020 and the second lowest since 2015. Similar to the trends observed in 2022, inflation and interest rates played pivotal roles in shaping the economic environment and subsequently influencing the commercial real estate sector.