Interest Rates Low for Q3 in Vancouver, BC
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National Industrial Statistics for Vancouver, BC
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(Posted on Nov 18, 2018 at 10:20AM by Danielle Smyth)
According to recent reports, things are going very well for Canada when it comes to commercial real estate, particularly in the industrial sector. In fact, Ottawa and Vancouver each have fewer than two years’ supply of vacant and under construction industrial space. This is a bit below the national average, because the nation’s six largest cities have 2.6 years of supply. All markets are seeing growth, with annualized occupancy increases of 1.77 percent overall this year so far.It’s a great time to be an investor. When it comes to commercial real estate absorption, this year has seen 6,877,000 square feet, representing an increase in absorption of 4,168,000 square feet over this year’s second quarter numbers. Specifically, there has been absorption of between 2.9 million  and 3.8 million square feet so far this year in Toronto, Edmonton and Vancouver. Even better, the national average vacancy rate for markets that have over one million residents has dropped significantly, falling to 2 percent. This is a new record for the category.
If you’re interested in learning more about opportunities for investment throughout Canada, get in touch with Marcus & Millichap's Vancouver office. One of our experienced commercial real estate advisors will be happy to provide additional information.
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