You can have a development proposition for a stunning structure, or a financially-viable affordable rental task, or a vast transit-oriented mixed-use neighborhood, but you can’t do anything without support from lending institutions. So, knowing what loan providers are thinking can go a long way.Every year
, CBRE Canada publishes an annual real estate loan providers report, with this year’s survey– conducted in between December 10 and January 16– including 47 companies with an aggregate total of over $200 billion in loans under management. Lenders include domestic banks, private capital, foreign banks, pension funds, insurance provider, and credit unions.Here are the big takeaways.A Return To Office Workers are returning to the workplace, and loan providers seem to
be following suit. According to CBRE’s study, lender objectives to increase spending plans for workplace loans in 2026 have”rose”in 2026, a”quick rebound in market belief” that represents the first rebound in six years.This is not to say workplace is leading property class, nevertheless, as multifamily remains at the top, with lending institutions still showing objectives to increase budgets for that property class. Lenders are also still aiming to grow their direct exposure to retail, while industrial is trending in the opposite instructions, although the belief isn’t almost as bad as it is for land. CBRE Canada It’s not all offices, however. Workplace lending institutions see aging/ outdated workplace item as an obstacle and “are concerned about the substantial financial investment needed to improve, amenitize or repurpose these properties to bring in quality tenants.”When it concerns office refinancing, lenders said they are most often giving short-term and long-lasting renewals upon maturity that result in increased loan proceeds for borrowers.Vancouver Is Back On Top As part of the yearly survey, CBRE has participants rank the various markets by lending institution cravings. For the first time in a years, Vancouver is now the top market, surpassing Toronto, which is now 2nd.”After years of focusing activity to Toronto, lenders could be wanting to diversify their loan book and Vancouver stands out with strong residential or commercial property principles across all possession classes, “stated CBRE.Third is now Calgary
, which has actually jumped 2 spots considering that in 2015’s survey and overtaken Montreal and Ottawa. Edmonton has likewise been climbing up the rankings the last few years, jumping 4 areas last year and one area this year to sixth.The most significant drop was Hamilton,
which was 6th last year and has actually now fallen to eleventh(out of fourteen). CBRE attributed the drop for Hamilton(and London) to industry-specific tariffs affecting the steel and car sector.The Obstacles Are To Be Predicted Less surprising is the top challenge in 2026, with 74%of respondents pointing out economic weakness as a significant obstacle, while 64%mentioned market fundaments, 51%pointed to the unpredictability around residential or commercial property valuations, and 49%highlighted the inequality in between buyer and seller expectations.”The leading two difficulties to the 2026 financing environment are correlated concerns about financial weak point in Canada and how that may stream through to impact property market fundamentals,”stated CBRE.”With GDP growth projections being revised lower for 2026, a weaker Canadian economy might drag out leasing momentum.”< img alt=""height="673 "src= "// www.w3.org/2000/svg'%20viewBox='0%200%201004%20673'%3E%3C/svg%3E"width ="1004"/ > CBRE Canada The next 3 difficulties have all dropped significantly from last year’s survey. Federal government real estate policy modifications were pointed out by 30%of respondents in 2015, but 26%of respondents this year. Regulatory changes dropped from 27%to 19%, while interest rate uncertainty dropped from 41%
— the fourth-highest concern last year– to simply 19%this year.” Especially, just a minority of lending institutions believe that the availability and tightening of capital will be a major issue in 2026, “CBRE explained, with simply 15% pointing to it as a challenge.More Lending institution Competitors And Debt Liquidity Survey outcomes also saw 68%of participants indicate that they will be”extremely actively bidding “or” actively bidding “for loans
this year, with CBRE saying that the increased competitors could lead to tighter spreads and lower borrowing costs.On the other side of the spectrum, just 15% said they were” carefully bidding,”
13%described themselves as “conservatively bidding,
“and just 4%said they have a”complete hang on bidding”in 2026. In addition to the increased competitors, there is also anticipated to be greater debt liquidity, with 32%of participants showing strategies to increase their origination volumes by 10%over last year.
Over a quarter of lenders signaled intentions to increase their origination volume by 20% or more, with some saying 30 %or more.”The results from our 2026 Canadian Property Lenders’Survey show that real estate debt markets will be a lot more active this year as lenders seek to deploy extra capital and increase competitors, “stated CBRE.” Outside of a handful of choose home types that might deal with challenges, lenders are open and going to finance most possession classes. “CBRE’s 2026 Canadian Property Lenders’Report can be viewed completely here.