Real Estate

Jan 13, 2021
Record December sales cap the B.C. housing market’s COVID comeback
By the Editors

As if the B.C. residential property market needed any more momentum, it closed out an unexpectedly strong 2020 by setting a new sales record in December. And by the look of things, prospective buyers can expect home prices to keep rising in 2021. Residential unit sales totalled 93,953 last year, the British Columbia Real Estate Association (BCREA) reports. That’s a surge of 21.5 percent compared to 2019. The average MLS price for 2020 was $782,027, an 11-percent increase over the...

Dec 24, 2020
B.C.’s top 10 office, retail, industrial and multifamily real estate deals of 2020
Nick Rockel

The province’s office, retail, industrial and multifamily property markets took a hit from COVID-19 this year but the pandemic failed to break their stride. The first quarter of 2020 was a busy time for investment deals, says Bob Levine, Vancouver-based managing partner with real estate services firm Avison Young. After the pandemic struck, activity died off as investors tried to figure out what was happening, Levine explains. “But I would say since late summer, the tempo has really picked up,”...

Dec 2, 2020
Vancouver and Victoria rank highly in new national tech talent report
Nick Rockel

B.C. fares well in a new report ranking Canadian cities for their competitive advantage and appeal to tech companies and workers. In the 2020 edition of Scoring Canadian Tech Talent, a study by real estate services firm CBRE Group, Vancouver and Victoria...

Nov 19, 2020
Weekend Warrior: Road riding turns property manager Erin Gibault's crank
Nathan Caddell

Right around the time he made the biggest career move of his life, Erin Gibault took up cycling. Sure, that could have had more to do with age than anything, as the then-35-year-old Richmond native found that running was getting...

Nov 14, 2020
Q&A: What could 2021 bring for real estate in Canada and Vancouver?
Nick Rockel

For real estate, like many other sectors, COVID-19 has made forecasting a nearly impossible task. As John Bunting talked to industry experts for the Canadian edition of Emerging Trends in Real Estate 2021, he knew that all bets were off. “I...

Oct 28, 2020
Victoria developer GMC Projects makes the argument for high-quality rentals over condos
Nathan Caddell

When Jordan Milne joined GMC Projects in late 2006, the company was really just him, his father, Lorne, and controller Glenda Infanti. The Victoria-based real estate developer focused on office and industrial properties back then, but the younger Milne was...

Oct 16, 2020
Big Fat Deal: $9.5 million to quarantine at Woodjam Ranch in Horsefly
Nathan Caddell

Address: 2551 Kroener Road Price: $9,500,000 Listing: R2479941 The skinny: 2,122 acres of deeded land in Horsefly, B.C. The bling: Welcome to Woodjam Ranch. Hope you enjoy your stay, because there’s literally nowhere else to go. Seriously, it’s Dr. Bonnie Henry’s wildest dreams. This is a place that...

Oct 9, 2020
Look for U.S. buyers to snap up more Vancouver homes
Nick Rockel

Every time there’s a U.S. election, it seems, Americans threaten to move to Canada. Google searches for “How to apply for Canadian citizenship” peaked after the recent train wreck of a debate between President Donald Trump and Democratic rival Joe Biden. Andrew Carros, licence partner with Engel & Völkers Vancouver, thinks this time really could be different—and that Vancouver residential real estate will benefit from motivated U.S. buyers...

Sep 18, 2020
For B.C. commercial real estate, COVID-19 creates winners and losers
By the Editors

COVID-19 hit the province’s commercial real estate market where it hurts, but the deals have kept flowing this year. As the pandemic took hold, investment in B.C. commercial property suffered its worst first half since 2015, according to a new midyear report by Avison Young. Tracking industrial, office and retail deals valued at more than $5 million, the real estate services firm found that 84 transactions worth a total of $1.5 billion wrapped in the first six months of 2020.

Sep 17, 2020
Big Fat Deal: $11 million to reflect on it all in Shaughnessy
Nathan Caddell

Address: 4281 Pine Crescent Price: $10,880,000 Listing: R2493497 The skinny: Six-bedroom, eight-bathroom, 6,000-square-foot house on 9,116 square feet in Vancouver’s Shaughnessy The bling: OK, kids, class is in session. Or should we say glass? Because that’s what you’re going to find on this Shaughnessy corner lot—wall-to-wall windows and mirrors.

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