British Columbia Real Estate Investment Review (Mid-Year 2022 )
September 20, 2022
British Columbia’s commercial real estate market registered near-record levels of investment activity in the first half of 2022 despite much discussion of a changing market. While interest rates increased and supply-chain issues and construction costs were topics of relevance, market statistics did not reflect lower overall transaction volumes. In total, investors were involved in 458 deals worth a total value of $8.29B across British Columbia in the first half of 2022.
Most of the activity during the first half of 2022 carried over from the momentum in 2021, and then the market experienced a slowdown in the second quarter of 2022 in correspondence with interest-rate hikes.
British Columba’s office investment activity was quite muted in the first half of 2022
Retail investment by sales trended toward secondary markets where more land is available
Demand forindustrial assets in the first-half 2022 remained healthy
As for multi-family properties, transactions tapered in the second quarter of 2022 due almost entirely to interest-rate hikes
Investor interest in land deals, and acquiring quality land that has redevelopment potential, remains strong