Close X
Thursday, November 14, 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

Vancouver schools to require masks for K-3 grades

Vancouver schools to require masks for K-3 grades
The Vancouver School Board becomes the first in the province to mandate masks for primary students. The approved motion leaves room for parental input, if concerns are submitted in writing to the principal of their child's school.    

Vancouver schools to require masks for K-3 grades

Robbery takes place at Sephora in Guildford Mall, Surrey RCMP looking for female suspect

Robbery takes place at Sephora in Guildford Mall, Surrey RCMP looking for female suspect
The suspect is described as a Caucasian female, approximately 30-35 year old, slim build, 5’7 tall with long brown hair. She was last seen wearing red baseball hat (backward), red t-shirt with gold 23 logo, a grey long sleeve shirt underneath and baggy black pants.

Robbery takes place at Sephora in Guildford Mall, Surrey RCMP looking for female suspect

Former B.C. social worker pleads guilty

Former B.C. social worker pleads guilty
The BC Prosecution Service says Robert Riley Saunders pleaded guilty to fraud over $5,000, breach of trust in connection with his duties as a child protection worker and causing the province to act on a forged document. 

Former B.C. social worker pleads guilty

B.C. police watchdog investigates fatal crash

B.C. police watchdog investigates fatal crash
The Mounties say that the motorcyclist passed a police vehicle before the collision. They say the Independent Investigations Office of British Columbia is looking into whether police actions are linked to the man's death.

B.C. police watchdog investigates fatal crash

Police look for witnesses after injured woman located near Anderson Creek

Police look for witnesses after injured woman located near Anderson Creek
On September 26, 2021, at approximately 6:30 pm, Surrey RCMP responded to the report of an injured woman who was located in a trail near the 19400-block of Colebrook Road. The woman was transported to local hospital with non-life threatening injuries.

Police look for witnesses after injured woman located near Anderson Creek

2,239 COVID19 cases over 3 days

2,239 COVID19 cases over 3 days
There are 6,098 active cases of COVID-19 in the province and 176,354 people who tested positive have recovered. Of the active cases, 303 individuals are in hospital and 141 are in intensive care. The remaining people are recovering at home in self-isolation.

2,239 COVID19 cases over 3 days