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Research

Mid-Island Multifamily Market Report Spring 2017

Mid-Island Multifamily Market Report Spring 2017

Mid-Island Multifamily Market Report Spring 2017
  • The Mid-Vancouver Island apartment markets are more active than ever; specifically, Nanaimo will add 331 units of purpose built rental product in 2017. 
  • Major market drivers for this new development include an increase in population, particularly from the mainland. The 2016 census indicates the total City of Nanaimo population is up 8.0% since 2011 to 90,504 people.
  • The region is attracting interest from large private equity and institutional investors due to affordability and growth potential. Given the stable demand from these groups, combined with the increasing population of the region, Colliers forecast the new supply of rental product to continue. 

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