Lower Mainland commercial real estate sales jump 47 per cent

May 5, 2017 11:19 am

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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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