Asset values of industrial strata in Metro Vancouver show resilience despite interest rate hikes
- Despite multiple interest rate hikes, demand for industrial strata remains unwavering and the average price per square foot ($/psf) continues to increase, albeit at a lower rate than in previous years of the same quarter.
- Across the Metro Vancouver region, seven out of eleven submarkets have seen steady year overyear growth since 2020, including Maple Ridge with a 23% increase to the $/psf in Q1 2023 versusQ1 2022.
- Despite macroeconomic headwinds and aggressive interest rate hikes by the Bank of Canada, industrial strata remains a strong investment option in the Metro Vancouver region.
June 21, 2023