No sign of slowdown in Vancouver commercial real estate sales

METRO VANCOUVER – The greater Vancouver area saw its busiest quarter for commercial real estate in five years earlier this year, according to a new report.

A total of 591 sales were made in the second quarter of 2015, and 1,111 properties were sold in the first half of the year, up from 974 sales in the first half of 2014.

Those numbers suggest that Vancouver is bucking the cooling trend that has hit the rest of Western Canada.

“While commercial real estate activity in most of Western Canada has been dampened by the drop in oil prices, investor confidence has remained high in Greater Vancouver,” Elton Ash, the regional executive vice president for RE/MAX of Western Canada, said in a press release.

“Land is in highest demand from local companies looking at long term opportunities.”