•There were 660 transactions across the Lower Mainland in the first three months of 2016 – an increase of 26% from 524 sales in the same period of last year.Â
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•The total dollar value of the sales in the first quarter of 2016 was $2.904 billion – an increase of 78.1% from $1.63 billion in the same period in 2015.
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•The hottest class of property was land sales with 271 transactions in the first quarter of 2016 – an increase of 42.6% from the 190 land sales in the same period of last year.
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•There were 201 sales in the office and retail category in Q1 2016 – an increase of 15.5% from the 174 sales in the same period in 2015.
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•There were 151 industrial land sales in the first three months of 2016 – an increase of 16.2% compared to the 130 sales in the same period of 2015.
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•As for multi-family land sales, there were 37 transactions in the first three months of 2016 – an increase of 23.3% compared to the 30 sales in the same period of 2015.Â
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Here’s Jen St. Denis from Business in Vancouver with more insight:
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For more information, please see the REBGV’s Q1 2016 Commercial Stats Package by clicking here.
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Questions? Feel free to contact our Vancouver office to speak with one of our commercial real estate advisors.
