FRANK FU 傅浩桓

Real Estate Consultant, CIPS®, SRES®, MCNE®

Personal Real Estate Corporation

KELLER WILLIAMS Realty VanCentral 英語,普通話,粵語

Sales activity in the Lower Mainland’s commercial real estate market reached the second-highest annual total on record in 2021.


There were 2,659 commercial real estate sales in the Lower Mainland in 2021, a 65.3 percent increase from the 1,609 sales in 2020, according to data from Commercial Edge, a commercial real estate system operated by the Real Estate Board of Greater Vancouver (REBGV). 


Last year’s sales total is the second-highest on record behind 2016 when 2,848 sales were recorded.


The total dollar value of commercial real estate sales in the Lower Mainland was $14.396 billion in 2021, a 66.7 percent increase from $8.635 billion in 2020.


"Like residential consumers, businesses and investors became more comfortable operating in the commercial market in the second year of the pandemic," Daniel John, REBGV Chair said. "We saw consistent increases among the different commercial property types both in sales volumes and dollar figures last year."


2021 activity by...

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Amendments to the Property Law Act introduced on Monday, March 28, 2022, will enable the creation of a new Homebuyer Protection Period to protect people buying a home in a challenging real estate market.


The Homebuyer Protection Period, sometimes called a “right of recission,” responds to concerns that in the highly competitive housing market, buyers are reporting pressure to submit offers without basic conditions intended to protect their interests.


The amendments would enable the creation of a period to give people buying a home more time to consider their offers, ensure financing and obtain a home inspection, instead of feeling like they need to waive these conditions. Regulations will be introduced this year to define the specific time homebuyers will have to exercise this right as well as the financial costs of retracting an offer. The legislation also allows for regional variation within the province, recognizing the housing market varies between regions.


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Ottawa, ON, March 15, 2022 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were up in February 2022 as buyers jumped on the first batch of spring listings.

HIGHLIGHTS

  • National home sales rose 4.6% on a month-over-month basis in February.

  • Actual (not seasonally adjusted) monthly activity came in 8.2% below the record February in 2021.

  • The number of newly listed properties bounced back by 23.7% month-over-month.

  • The MLS® Home Price Index (HPI) rose a record 3.5% month-over-month and was up a record 29.2% year-over-year.

  • The actual (not seasonally adjusted) national average sale price posted a 20.6% year-over-year gain in February.

Home sales recorded over Canadian MLS® Systems climbed 4.6% between January and February 2022. The monthly increase in activity was likely the result of a rebound in new listings in February following big a decline in January. 


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