Interest Rates Low for Q3 in Vancouver, BC
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Report: Vancouver Remains a Primary Destinations for Investors
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(Posted on Oct 31, 2018 at 08:18PM by Michelle Bogle)
According to a recent report, the strength of Canada’s investment market is proving very strong for 2018 with sales data appearing exceptionally good in Vancouver.Â
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Looking back to Q2 2018, commercial real estate transactions hit a record $16.5 billion across the country with Toronto attracting $5.7 billion worth of deals and Vancouver accounting for $3.2 billion.
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In B.C., two major investment trusts are responsible for driving nearly half the national volume in the second quarter – Canadian REIT, who owns 1185 West Georgia and 1508 West Broadway, and Vancouver-based Pure Industrial Real Estate Trust. The purchase of Investors Group’s nine office properties in Metro Vancouver was also a driving factor in significantly increasing local investment volumes, along with growing suburban office deals outside of the city’s centre.
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The market has proven to be as busy as ever – and the pipeline of transactions continues to show signs of benchmark numbers for the remainder of the year. Apartment properties are steadily gaining investor demand, and this trend is likely to continue with the province’s recent announcement of a 4.5% annual allowable rental increase for 2019.
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If you are an investor looking to gain a foothold in Vancouver’s prime commercial real estate market, please contact our team at Marcus & Millichap to speak with an investment sales and financing professional.
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