By Altus Group | November 8, 2017

Vancouver Flash Report 2017

The Vancouver office leasing market adjusting to the significant new supply added in recent years.

Commercial investment & land market

  • Total investment property sales transaction volumes in the Vancouver Market Area reached $12.4 billion in 2016, shattering the previous record set just a year earlier with a 55% gain in capital flows compared to 2015.
  • Investment property sales transactions continued strong in the first half of 2017.
  • The decline in the land sectors was offset by strong increases for Office and Retail investment, each up by more than $500 million dollars.

Industrial & office markets

  • The Vancouver office leasing market adjusting to the significant new supply added in recent years.
  • The increase in Office investment in the first half of 2017 was boosted by three significant transactions with a combined value of over $614 million.
  • About 2.2 million square feet of net new industrial space was added over the four quarters ending Q3 2017, with another 2.6 million under construction.
  • Vancouver net rentals rates for new tenants leasing industrial space are typically higher than in other major Canadian markets.

Residential development market

  • New condominium apartment sales settle back to more sustainable levels.
  • 2016 was the best year yet recorded by Altus Group for total new homes sales in the Vancouver Market Area at just under 24,900 units, up 42%from 2015.
  • In the first half of 2017,36 new condominium apartment projects opened, adding just under 4,600 new units to the market.


  • Interest in buying a first home has not faded.
  • Homebuying intentions are down this year in Vancouver among current homeowners, but have firmed up for renters.
  • First-time buyers have been an important component of the Vancouver housing market, accounting for more than half of end user buyers in recent years.
forumRequest a demo

Thank you for contacting us. we will get back to you shortly!

This site uses cookies to improve your user experience. By using our website, you are agreeing to our use of cookies.
Click here for more information.