Close X
Monday, November 25, 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

Alberta, Saskatchewan urged to shut down

Alberta, Saskatchewan urged to shut down
Dr. Alika Lafontaine said if the province doesn't strengthen public health measures to extinguish a relentless fourth wave then the health-care system will burn to the ground.

Alberta, Saskatchewan urged to shut down

DARPAN 10 with Teri Mooring

DARPAN 10 with Teri Mooring
This year almost 100 percent of the cases are of the Delta variant, so we haven’t been given a clear rationale as to why Kindergarten to Grade 3 students were excluded this year.

DARPAN 10 with Teri Mooring

Burnaby RCMP seize significant amount of drugs and unregistered restricted “ghost gun” as part of trafficking investigation

Burnaby RCMP seize significant amount of drugs and unregistered restricted “ghost gun” as part of trafficking investigation
The investigation led to the seizure of an unregistered restricted handgun, which is also known as a ghost gun, with ammunition. The seizure is significant because the untraceable nature of the gun components, which do not have serial numbers.

Burnaby RCMP seize significant amount of drugs and unregistered restricted “ghost gun” as part of trafficking investigation

Veteran Coast Mountain Bus Company Employee, Charanjit Parhar, passes away after being pinned between 2 buses

Veteran Coast Mountain Bus Company Employee, Charanjit Parhar, passes away after being pinned between 2 buses
Bus Driver, Charanjit Parhar, was pinned between 2 buses. The incident is being further investigated.  Translink took to Twitter to share the news of the bus driver passing away and are mourning his demise by a moment of silence today. 

Veteran Coast Mountain Bus Company Employee, Charanjit Parhar, passes away after being pinned between 2 buses

Witnesses sought following hit and run involving a cyclist: Richmond RCMP

Witnesses sought following hit and run involving a cyclist: Richmond RCMP
The cyclist said he was riding Eastbound on Granville Ave in the bicycle lane when a silver Honda SUV allegedly clipped the back of his bicycle causing him to lose control.

Witnesses sought following hit and run involving a cyclist: Richmond RCMP

Falcon faces pointed Liberal debate questions

Falcon faces pointed Liberal debate questions
Kevin Falcon, a former minister of finance, health and transportation in the Liberal governments of premiers Gordon Campbell and Christy Clark, faced repeated questions Tuesday about his reasons for seeking the leadership after leaving politics in 2012.

Falcon faces pointed Liberal debate questions