Value of commercial real estate sales in B.C. increased by 47% in 2016

May 31, 2017 10:24 am

cbc news

A shortage of land and a growing economy fuelled a 47-per-cent surge in the value of commercial real estate sales across British Columbia’s Lower Mainland in 2016, says the head of the region’s real estate board.

Figures released Monday by the Real Estate Board of Greater Vancouver show sales involving commercial real estate reached nearly $13 billion last year compared with $8.8 billion in 2015.

The report also measured a 21 per cent spike in the number of sales involving commercial real estate over the same one-year period.

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