Commercial real estate sales reach five-year record of $8 billion in 2015

March 15, 2016 9:29 pm

the vancouver sun

Commercial real estate sales in the Lower Mainland saw a record-breaking year in 2015 following a strong fourth quarter, according to the Real Estate Board of Greater Vancouver.

“Last year was an extremely strong year for commercial real estate sales, led by growth in both office and retail space, and multi-family properties,” said REBGV president Darcy McLeod in a statement. “Overall, these numbers reflect B.C.’s solid economy and our own residential real estate market’s growth.”

According to a release Monday, there were a total of 2,307 commercial real estate sales in the Lower Mainland in 2015, a 16.2-per-cent increase over the 1,985 sales in 2014, which was the previous five-year record holder.

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