skip to Main Content

Vancouver sees the number of commercial real estate transactions go down while their total dollar value goes up

By JENNY PENG for The Star Vancouver

VANCOUVER—The fall of commercial real estate transactions continued into the second quarter of this year, with fewer transactions compared to recent years.

The Real Estate Board of Greater Vancouver reports there were 569 commercial real estate sales in the Lower Mainland in the second quarter, a 16 per cent decrease during the same period last year that recorded 680 sales.

Vancouver Real Estate News, Market Updates, Insider Tips, Stats, & Analysis

Sign up for insider real estate news & tips from our podcasting team.

Are you a realtor? Click here
Selling Your Home? Click here

  • Reload
  • Should be Empty:

“Similar to our residential market in recent months, we’re starting to see fewer transactions across all categories in our commercial market,” board president Phil Moore said in a statement. “Higher interest rates, reduced retail activity and other economic factors are contributing to this change.”

However, the combined dollar value of second quarter transactions, $4 billion, was 13 per cent higher versus last year.

Continue reading the full story here >>
 

This Post Has 0 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

As Seen and Heard On

Media enquiries and press contact info: media@vancouverrealestatepodcast.com

© 2020 Matt Scalena PREC* & Adam Scalena PREC* , all rights reserved • Site MapBy Line49 Web Design, Vancouver BC

*Considering a real estate transaction? One of the first decisions you will need to make is whether you should work with a licensed real estate professional who will represent you. Take a moment to read this important consumer protection information from the Real Estate Council of BC. This form explains the special legal duties that real estate professionals owe to their clients. CLICK HERE and please call 778-847-2854 or 778-866-4574 immediately if you would like to discuss.

Back To Top