Interest Rates Low for Q3 in Vancouver, BC
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Commercial Real Estate in the Tech Space Booms in Vancouver, BC
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(Posted on Nov 25, 2018 at 03:04PM by Danielle Smyth)
Despite a return earlier this year to more normal levels, Vancouver’s real estate market has remained strong when it comes to investors in the tech space. 2017 was a tremendous, record-breaking year for the greater Vancouver, BC, area, and this year so far has seen a bit of a drop. However, analysts feel this is to be expected, and they remain impressed by the interest technology companies have exhibited in commercial real estate opportunities.Large players in the technology market, like Amazon and WeWork, have moved into Vancouver this year, marking it as a valuable player in the nation’s emerging tech industry. These moves, and continued interest in properties across Western Canada by big names like this, represent good news for investors.
According to a recent report, “As Canada continues to push further ahead in areas like technology, investors both domestic and abroad see the potential for growth here and are willing to call Canada home.†Marcus & Millichap stated that, “Talent is heading to Toronto in strong numbers, growing the consumer base and driving local and international retailers to grow their footprint across the metro.â€
This is great news for investors! Want to learn more about how these trends can impact you? 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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