Close X
Monday, November 11, 2024
ADVT 
National

Strong Vancouver Q2 commercial real estate sales

Darpan News Desk The Canadian Press, 29 Oct, 2021 02:13 PM
  • Strong Vancouver Q2 commercial real estate sales

VANCOUVER - The Real Estate Board of Greater Vancouver says commercial real estate sales remained strong through the second quarter of this year, reaching levels not seen since 2017.

A statement from the board says 726 commercial properties sold in the Lower Mainland between April and June, a nearly 115 per cent increase from sales in the same period last year.

The board says the total dollar value of the sales was $3.635 billion, a 130 per cent leap over the $1.578 billion recorded the year earlier.

Thirty-two sales of multi-family units were finalized between April and June, compared with 10 in the second quarter of 2020.

The sale of land and office or retail properties also saw triple-digit jumps, with the board reporting the total value of 236 land sales over the quarter was $1.785 billion while 278 office or retail sales brought in $859 million.

Keith Stewart, an economist with the real estate board, says the boost in activity mirrored the commercial sector's strong start in the first quarter of the year.

“Land acquisition is particularly strong as investors are demonstrating confidence in new development potential in our region," Stewart says in the release.

The Greater Vancouver Real Estate Board covers an area from Whistler and the Sunshine Coast, south to Delta and from Vancouver to Maple Ridge, representing more than 14,000 Realtors and their companies across the region.

 

MORE National ARTICLES

Green Party to drop legal action against leader

Green Party to drop legal action against leader
Two senior party members who were not authorized to speak publicly on the matter say members of the federal council and the Green Party of Canada Fund met over the past week to call off their court action.

Green Party to drop legal action against leader

People allergic to mRNA shot OK for 2nd dose: NACI

People allergic to mRNA shot OK for 2nd dose: NACI
The National Advisory Committee on Immunization says there have been cases of severe anaphylactic reactions to mRNA vaccines documented in Canada after their first dose.

People allergic to mRNA shot OK for 2nd dose: NACI

Changes to B.C. forest policy 'a start': watchdog

Changes to B.C. forest policy 'a start': watchdog
Kevin Kriese of the Forest Practices Board said the amendments are overdue and "only a start," given the complexity of implementing new forestry policies on the ground. He's keen to see a timeline, a fast pace and details on how and when the changes will take effect, he said in an interview Thursday.    

Changes to B.C. forest policy 'a start': watchdog

Quebec schools worry kids are copying 'Squid Game'

Quebec schools worry kids are copying 'Squid Game'
Several school boards in the province have recently issued statements warning parents about students imitating the games on playgrounds. The South Korean series features 456 desperate, indebted adults fighting each other to the death for a chance to win a prize worth roughly $48 million.

Quebec schools worry kids are copying 'Squid Game'

PMO says it will do all it can on school records

PMO says it will do all it can on school records
The PMO says in a written statement that it has provided more than four million documents to the centre, and if all the records haven't been supplied, "we will do everything we can" to make sure all the parties of the Indian Residential School Settlement Agreement have them.

PMO says it will do all it can on school records

B.C. premier questions COVID-19 travel rules

B.C. premier questions COVID-19 travel rules
John Horgan says he finds Ottawa's testing requirement counter to the whole point of staying safe, saying he could get a test in Vancouver, travel to the United States and come back within 72 hours using the same tes

B.C. premier questions COVID-19 travel rules