Vancouver Investment Transaction Stats – Q3 2017
Strongest Nine Months on Record for Commercial Real Estate Sales in the Vancouver Market Area
Q3 2017 saw a total of 645 investment property sales transactions over $1 million, representing a total investment value of $3.2 billion
VANCOUVER ‒ Altus Group, a leading provider of commercial real estate services, software and data solutions, today announced the results for the third quarter of 2017 commercial real estate investment in the Vancouver market area. Overall investment volumes remained above $3 billion for the third quarter in a row, resulting in the strongest 9 month period on record.
Source: Altus Group
Land transactions (residential and ICI combined) accounted for 72% of the overall capital flows in Q3, well above the 10 year average of just over half. Both residential land and ICI land posted double-digit percent increases from the dollar volumes recorded in Q2 (20% and 14% respectively).
Source: Altus Group
Office and retail investment took a bit of a breather in Q3 after a strong first half, and year-to-date are ahead of last year by 78% and 61% respectively. The industrial sector recorded the most significant increase in deal flow, from 44 to 70 transactions, and had the strongest quarter-to-quarter increase in dollar volume, at 44%. Just over half of the industrial transactions took place in Vancouver, Surrey and Burnaby, however 40% of the investment volumes took place in Richmond and Delta.
“Investors continue to be attracted to the Vancouver Market Area. Based on the results through Q3, 2017 has the potential to be another record year for commercial real estate investment,” noted Paul Richter, Director, Data Solutions at Altus Group.
ABOUT DATA SOLUTIONS
Data Solutions connects the Canadian real estate industry through the delivery of data with unparalleled breadth, integrity and relevance. We cover new homes, investment transactions and commercial market inventory in key markets, and also provide intelligence on the national housing market and consumer home buying and borrowing patterns.
Our solutions are used by real estate industry stakeholders to gain market intelligence, identify and validate opportunities, benchmark, strategically plan, manage risk and more.
Data Solutions is part of Altus Analytics, the software and data solutions business of Altus Group, where our focus is to empower real estate clients and partners to work collaboratively to enhance decision making, drive performance and optimize transactional efficiency. Our solutions enable firms to better organize and manage data and connect with the right information and analytics to help them gain a complete picture of real estate assets, portfolios and transactions.
For more information on Data Solutions, please visit www.altusgroup.com/datasolutions.
ABOUT ALTUS GROUP LIMITED
Altus Group Limited is a leading provider of independent advisory services, software and data solutions to the global commercial real estate industry. Our businesses, Altus Analytics and Altus Expert Services, reflect decades of experience, a range of expertise, and technology-enabled capabilities. Our solutions empower clients to analyze, gain insight and recognize value on their real estate investments. Headquartered in Canada, we have approximately 2,500 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include some of the world’s largest real estate industry participants across a variety of sectors. Altus Group pays a quarterly dividend of $0.15 per share and our shares are traded on the TSX under the symbol AIF.
For more information on Altus Group, please visit: www.altusgroup.com.
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