“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 Darcy McLeod, REBGV president. “Overall, these numbers reflect BC’s solid economy and our own residential real estate market’s growth.”
The total dollar value of commercial real estate sales in the Lower Mainland was $8.389 billion in 2015, nearly 33.7 per cent above the 2014 level.
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It’s not just homes that are setting new records in Vancouver; the Lower Mainland has just recorded a record-breaking year in commercial real estate. The Real Estate Board of Greater Vancouver says that there was a total of 2,307 commercial real estate sales in the Lower Mainland in 2015, up 16.2 per cent over 2014, which was the previous five-year record holder and beating the 5-year average by 15.3 per cent.