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Strata Office is Quietly Outperforming the Strata Apartment Market
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(Posted on May 26, 2016 at 06:00PM by Michelle Bogle)
Move over apartment market – there is a new hot performer in Vancouver’s bustling real estate market and that’s strata office.Â
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With $280 million worth of sales in the last two years, office condos are quietly outperforming the apartment market. In fact, some office condos are even selling for more than their residential counterparts.Â
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In 2015, office strata sales totaled $120 million – that’s double the sales volume from five years earlier. Even though this number was down from the peak achieved in 2014, which saw $160 million of condo office sales, it wasn’t from lack of interest, but more from lack of inventory.Â
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This asset class is becoming increasingly popular with small professional services firms and self-employed entrepreneurs, such as doctors, who are seeking an alternative from rental spaces that offer zero gains. Low interest rates, strong price-per-square-foot growth, increasing lease rates and opportunity to build equity are driving factors behind this growing trend.
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Much like home ownership, strata office ownership is a solid investment in your financial future. To learn more about office condo developments within the Vancouver Metro Area, please contact us to speak with our office asset specialists.Â
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