B.C. investment market’s remarkable stretch has likely run its courseSeptember 22, 2017 8:29 am
It’s been a hell of a run.
The past five years – 2012 to 2017 – will likely go down as one of the most prolific and profitable periods in history for Metro Vancouver’s commercial real estate market.
Since 2012, almost $22.7 billion has been invested to acquire industrial, retail, office and multi-family assets in the province (and we still have three months to go!). In comparison, the previous five-year period, 2007 to 2011, totalled $7.03 billion. (For those really looking to have their minds blown: the first half of 2017 alone produced $5.09 billion in transactions.) These figures only include assets priced greater than $5 million. If properties that sold for less than $5 million are included, the total since 2012 would rapidly push north of $25 billion.
Even more astonishing: the $22.7 billion does not include the billions spent by investors, developers, and private companies and individuals to acquire ICI land throughout the province. And I’m not even considering the staggering value of residential land sales.
Categorized in: Western Investor