Vancouver Multifamily Market 269 Feet and Rising
According to Colliers, the supply of purpose-built rental apartment buildings in Vancouver has steadily decreased over the past 15 years, mainly because of condo development. Rising land values and the increasing cost of home ownership have played major roles, leading to investment growth in the multifamily asset class from private investors to REITS and pension funds.
This year, there has been a 20-per-cent increase in condo sales than last year, according to The Vancouver Sun. 87 per cent of the 21,600-plus concrete condo units scheduled to be finished by 2018 have already been sold.
To read the report from Colliers, please visit here.
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