{"id":18838,"date":"2021-11-02T15:15:00","date_gmt":"2021-11-02T22:15:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=18838"},"modified":"2021-10-29T12:07:43","modified_gmt":"2021-10-29T19:07:43","slug":"rebgv-commercial-real-estate-activity-continued-to-strengthen","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2021\/11\/rebgv-commercial-real-estate-activity-continued-to-strengthen\/","title":{"rendered":"REBGV Commercial Real Estate Activity Continued to Strengthen"},"content":{"rendered":"<p style=\"text-align: justify;\">The increased activity seen in the Lower Mainland\u2019s commercial real estate market in the beginning of 2021 carried into the second quarter (Q2) of the year.<\/p>\n<p style=\"text-align: justify;\">There were 726 commercial real estate sales in the Lower Mainland in Q2 2021, a 114.8% increase from the 338 sales in Q2 2020, according to data from Commercial Edge, a commercial real estate system operated by the Real Estate Board of Greater Vancouver (REBGV).<\/p>\n<p style=\"text-align: justify;\">The total dollar value of commercial real estate sales in the Lower Mainland was $3.635 billion in Q2 2021, a 130.4% increase from $1.578 billion in Q2 2020.<\/p>\n<p style=\"text-align: justify;\">&#8220;Commercial real estate activity continued to strengthen in the second quarter of 2021, with sales reaching levels that we haven\u2019t seen in four years,&#8221; Keith Stewart, REBGV economist said. \u201cLand acquisition is particularly strong as investors are demonstrating confidence in new development potential in our region.\u201d<\/p>\n<p><strong>Q2 2021 activity by category<\/strong><\/p>\n<p>Land : There were 236 commercial land sales in Q2 2021, which is a 181% increase from 84 land sales in Q2 2020. The dollar value of land sales was $1.785 billion in Q2 2021, a 181.5% increase from $634 million in Q2 2020.<\/p>\n<p style=\"text-align: justify;\">Office and Retail : There were 278 office and retail sales in the Lower Mainland in Q2 2021, which is up 100% from 139 sales in Q2 2020. The dollar value of office and retail sales was $859 million in Q2 2021, a 39.7% increase from $615 million in Q2 2020.<\/p>\n<p style=\"text-align: justify;\">Industrial : There were 180 industrial land sales in the Lower Mainland in Q2 2021, which is a 71.4% increase from 105 sales in Q2 2020. The dollar value of industrial sales was $480 million in Q2 2021, a 79.8% increase from $267 million in Q2 2020.<\/p>\n<p style=\"text-align: justify;\">Multi-Family : There were 32 multi-family land sales in the Lower Mainland in Q2 2021, which is up 220% from 10 sales in Q2 2020. The dollar value of multi-family sales was $511 million in Q2 2021, a 724.2% increase from $62 million in Q2 2020.<\/p>\n<p><a href=\"http:\/\/members.rebgv.org\/news\/Q2-2021-Commercial-Stats-Package.pdf\" target=\"_blank\" rel=\"noopener\">Click here<\/a> to view the Q2 2021 Commercial Stats Package.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.rebgv.org\/media-room\/Media-archives\/lower-mainland_s-commercial-real-estate-market-sees-strong-activ.html\" target=\"_blank\" rel=\"noopener\">Lower Mainland\u2019s Commercial Real Estate Market Sees Strong Activity in The Second Quarter of 2021<\/a> by REBGV<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The increased activity seen in the Lower Mainland\u2019s commercial real estate market in the beginning of 2021 carried into the second quarter (Q2) of the year. There were 726 commercial &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2021\/11\/rebgv-commercial-real-estate-activity-continued-to-strengthen\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-18838","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>REBGV Commercial Real Estate Activity Continued to Strengthen &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2021\/11\/rebgv-commercial-real-estate-activity-continued-to-strengthen\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"REBGV Commercial Real Estate Activity Continued to Strengthen &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"The increased activity seen in the Lower Mainland\u2019s commercial real estate market in the beginning of 2021 carried into the second quarter (Q2) of the year. 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