Thirty-two sales of multi-family units were finalized between April and June, compared with 10 in the second quarter of 2020.
The sale of land and office or retail properties also saw triple-digit jumps, with the board reporting the total value of 236 land sales over the quarter was $1.785 billion while 278 office or retail sales brought in $859 million.
Keith Stewart, an economist with the real estate board, says the boost in activity mirrored the commercial sector’s strong start in the first quarter of the year.
“Land acquisition is particularly strong as investors are demonstrating confidence in new development potential in our region,” Stewart says in the release.
The Greater Vancouver Real Estate Board covers an area from Whistler and the Sunshine Coast, south to Delta and from Vancouver to Maple Ridge, representing more than 14,000 Realtors and their companies across the region.
This report by The Canadian Press was first published Oct. 29, 2021.
The Canadian Press
