Interest Rates Low for Q3 in Vancouver, BC
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Great News for Vancouver, BC, Commercial Real Estate Investors
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(Posted on Nov 11, 2018 at 04:22PM by Danielle Smyth)
A recent report on updates to the market in Vancouver revealed some great news for Canadian investors. For instance, on the whole, the nation saw an overall growth of 2.5%, annualized, year-over-year. In addition, when it came to office space, finance- and insurance-related companies saw gains of about 1.0 percent. General real estate was also up, seeing a 0.3 percent increase largely tied to home sales. Professional services saw similar gains.According to CoStar Canada, “The  office, industrial and retail commercial real estate markets in the [Greater Vancouver Area] remain deeply embedded in favour of landlords.†They spoke further to the increased demand from companies like Amazon, as well as co-working companies, all of whom are seeking office and warehousing space in the Vancouver region. The market assessment further stated that, despite “an additional 2.4 million SF of retail space currently under construction, due to low vacancy and relatively consistent demand, rental rates are expected to continue rising.â€
All of this is excellent news for investors, who should take the leap now if they wish to grab hold of some amazing opportunities in Vancouver. Don’t miss out on this wonderful chance! If you’re interested in learning more about opportunities for investment, contact Marcus & Millichap's Vancouver office. One of our experienced commercial real estate advisors will be happy to help you!
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