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Real Estate News for Vancouver
Investor interest for multi-family assets in British Columbia was exceptionally high in 2015 with no signs of slowing in 2016.
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According to new industry stats, multi-family investment activity achieved record levels last year with 80 transactions valued at $1.41 billion – a figure that far surpasses the 43 transactions valued at $582M in 2014.
Even more impressive is that 54 transactions, valued at more than $1 billion, occurred in the second half of 2015 compared to the 26 deals, worth $370 million, in the first half of the year.Â
Even more impressive is that 54 transactions, valued at more than $1 billion, occurred in the second half of 2015 compared to the 26 deals, worth $370 million, in the first half of the year.Â
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This change marks a reversal in sales patterns for multi-family assets, which typically slow in the later months of the year. With pricing so attractive in late-2015, many vendors, who typically would never conceive of selling, decided to dispose of assets.Â
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Vendors were virtually all private owners, with a handful being institutions and real estate investment trusts. Foreign investors, especially those with ties to Mainland China, continue to proliferate the multi-family market and other commercial real estate asset classes.Â
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This trend is expected to continue as more foreign investors arrive in the Greater Vancouver Area over the next year and a half.Â
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For more information on Vancouver’s mutli-family asset class, please contact our office for details.
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