{"id":19706,"date":"2022-04-06T10:10:00","date_gmt":"2022-04-06T17:10:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=19706"},"modified":"2022-04-01T08:32:38","modified_gmt":"2022-04-01T15:32:38","slug":"heightened-sales-activity-leads-a-busy-2021-for-commercial-real-estate-in-lower-mainland","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2022\/04\/heightened-sales-activity-leads-a-busy-2021-for-commercial-real-estate-in-lower-mainland\/","title":{"rendered":"Heightened Sales Activity Leads A Busy 2021 for Commercial Real Estate in Lower Mainland"},"content":{"rendered":"<p style=\"text-align: justify;\">Sales activity in the Lower Mainland\u2019s commercial real estate market reached the second-highest annual total on record in 2021.<\/p>\n<p>There were 2,659 commercial real estate sales in the Lower Mainland in 2021, a 65.3% increase from the 1,609 sales in 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>Last year\u2019s sales total is the second highest on record behind 2016 when 2,848 sales were recorded.<\/p>\n<p>The total dollar value of commercial real estate sales in the Lower Mainland was $14.396 billion in 2021, a 66.7% increase from $8.635 billion in 2020.<\/p>\n<p>&#8220;Like residential consumers, businesses and investors became more comfortable operating in the commercial market in the second year of the pandemic,&#8221; Daniel John, REBGV Chair said. &#8220;We saw consistent increases among the different commercial property types both in sales volumes and dollar figures last year.&#8221;<\/p>\n<p><strong>2021 Activity by Category<\/strong><\/p>\n<p>Land : There were 781 commercial land sales in 2021, which is an 86.8% increase from the 418 land sales in 2020. The dollar value of land sales was $7.28 billion in 2021, a 73.6% increase from $4.193 billion in 2020.<\/p>\n<p>Office and Retail : There were 1,041 office and retail sales in the Lower Mainland in 2021, which is up 74.1% from the 598 sales in 2020. The dollar value of office and retail sales was $3.136 billion in 2021, a 77% increase from $1.772 billion in 2020.<\/p>\n<p>Industrial : There were 712 industrial land sales in the Lower Mainland in 2021, which is a 36.9% increase from the 520 sales in 2020. The dollar value of industrial sales was $2.394 billion in 2021, a 61.1% increase from $1.486 billion in 2020.<\/p>\n<p>Multi-Family : There were 125 multi-family land sales in the Lower Mainland in 2021, which is up 71.2% from 73 sales in 2020. The dollar value of multi-family sales was $1.586 billion in 2021, a 33.9% increase from $1.184 billion in 2020.<\/p>\n<p><a href=\"http:\/\/members.rebgv.org\/news\/Q4-2021-Commercial-Stats-Package.pdf\" target=\"_blank\" rel=\"noopener\">Click here<\/a> to view the Q4 2021 Commercial Stats Package.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.rebgv.org\/content\/rebgv-org\/media-room\/Media-archives\/commercial-real-estate-sales-heightened-in-2021.html\" target=\"_blank\" rel=\"noopener\">Commercial Real Estate Sales Heightened in 2021<\/a> by REBGV<\/p>\n<p><a href=\"https:\/\/biv.com\/article\/2022\/03\/commercial-real-estate-sales-topped-14-billion-2021\" target=\"_blank\" rel=\"noopener\">Commercial Real Estate Sales Topped $14 Billion in 2021<\/a> by Western Investor | BIV<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sales activity in the Lower Mainland\u2019s commercial real estate market reached the second-highest annual total on record in 2021. There were 2,659 commercial real estate sales in the Lower Mainland &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2022\/04\/heightened-sales-activity-leads-a-busy-2021-for-commercial-real-estate-in-lower-mainland\/\">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-19706","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Heightened Sales Activity Leads A Busy 2021 for Commercial Real Estate in Lower Mainland &#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\/2022\/04\/heightened-sales-activity-leads-a-busy-2021-for-commercial-real-estate-in-lower-mainland\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Heightened Sales Activity Leads A Busy 2021 for Commercial Real Estate in Lower Mainland &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Sales activity in the Lower Mainland\u2019s commercial real estate market reached the second-highest annual total on record in 2021. 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