Real Estate

Some commercial real estate tenants are paying for “phantom” space that does not exist, according to lease consultant Dale Willerton, who warns that mistaken measurements can add up to huge costs. “We call them landlords with 13-inch rulers,” he said.

Home sales fell 7.8% in July across Greater Vancouver, according to Canadian Real Estate Association statistics released August 15, bringing the total sales to 2,672 for the month.

Vancouver saw the price of new housing fall 1.4% in the 12 months to June, Statistics Canada announced August 14.

Lower Mainland commercial building permits outpaced the residential sector through the first half of this year and are expected to retain the lead as home building heads for a “soft landing.”

The leasing of 267,000 square feet of office space by tech firms has not been enough to keep Vancouver’s downtown office market from posting the highest vacancy rate in nine years.

Gone are the days of underdeveloped plots of land as the area becomes the new upper-crust enclave of the Fraser Valley

Total housing starts in the Vancouver Census Metropolitan area were trending at 18,345 units in July, according to Canada Mortgage and Housing Corporation (CMHC) data released August 11.

Condo investors account for less than one-fifth of those who own units in two of North America’s most expensive housing markets, according to survey results from Canada Mortgage and Housing Corporation (CMHC).

Vancouver saw a 22.3% drop in building intentions in June compared with a year ago, Statistics Canada announced August 7.

The Exchange office tower arising in downtown Vancouver marks not only the first LEED (Leadership in Energy and Environmental Design) Platinum office high-rise in British Columbia but also the first Canadian skyscraper encased in a triple-glazed curtain wall.