Multifamily Market Report
The Mid-Vancouver Island multi-residential market set records in 2017 for both total number of transactions and annual sales volumes. The positive market activity can be attributed to groups showing interest in the Mid-Island market for its emerging status as a growing and stable multi-residential market. Some 2017 highlights in the Mid-Island market include:
- Record sales volumes of apartments.
- Large portfolio transactions.
- A large number of rental units either recently completed, under construction or in the design phases within the City of Nanaimo.
- Slight cap rate compression and increasing rental rates.
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