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Recently, Western Investor published a list of the top five centres in Western Canada for property investments. Of those five cities, four of them were located in British Columbia, including Kamloops, Coquitlam, Terrace and Nanaimo. 
 
In today’s post, we take a look at Nanaimo’s commercial real estate market and why you should consider investing in this city.
 
About Nanaimo
Nestled between the mountains and the sea, Nanaimo is a quick 15-minute flight from downtown Vancouver or a short 1-2 hour ferry ride. As the economic hub of Vancouver Island, Nanaimo boasts a vibrant business community and offers an exceptional quality of life. Businesses choose Nanaimo because of the cost efficiencies and a complete range of telecommunications services, as well as a skilled workforce, technological infrastructure and easy access to the rest of the world. It is also the fifth fastest growing mid-size urban centre in British Columbia, according to the 2006 and 2011 Censuses.
 
 
Investment Highlights
• An oceanfront port city, Nanaimo has the potential to become the pressure valve for Lower Mainland housing and export growth. 
 
• This year alone, building permit values averaged $30 million per month and have already eclipsed those of larger Lower Mainland suburbs. 
 
• House prices offer greater affordability – they are currently a third of what homeowners pay in Metro Vancouver.
 
• A fast-passenger ferry service is on the horizon for Nanaimo and will further enhance transportation to the big city.  
 
• Tourism is a growing force – BC Ferries traffic is up 6% in 2016, as is air passenger traffic (up 12%). 
 
• In August of this year, hotel occupancy rates also topped 90%.
 
• Some of Nanaimo's largest sectors include construction, retail, government and education, knowledge-based companies, tourism, arts and culture, professional, scientific and technical sectors. 
 
• Nanaimo's central location has helped the city develop as an important retail, service and transportation centre for central and northern Vancouver Island.
 
Want to learn more? If you are interested in exploring the investment potential for office, land, industrial, hospitality, retail or multi-family assets within Nanaimo, B.C., be sure to contact our Vancouver office to speak with an associate, or visit our Property Search Portal to view active listings within the Lower Mainland and beyond.
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