Property Values Decline, but not in Vancouver
Tags: commercial real estate, infill, lane housing, property value, real estate, Vancouver
3D Overview by Lanefab.com
During this “Great Recession,” property values and employment rates have been declining across North America, with my hometown having one of the worst unemployment rates in the US.
Nevertheless, Wall Street Journal reported that Vancouver’s property market is remarkably robust.
“[Vancouver's] office market has logged seven building transactions this year capped off by Germany-based Deka Immobilien’s recent $263 million purchase of Bentall V, a 33-story tower in the heart of the city’s district. Just as impressive, prices have held up well. By contrast, only five office properties valued at $5 million or more have sold in Manhattan in the first two quarters of this year, and average prices paid are off 32%, according to Real Capital Analytics, a New … Continue Reading
