Nanaimo Multifamily Market Report Q1 2020

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research article

Leading into the current COVID-19 situation, the mid-island multifamily market was experiencing high investor demand and low supply of available inventory resulting in a reduced sales volume in 2019 compared to 2018. To highlight the increased demand, two sales of investment product in the Nanaimo market transacted in the sub 4.0% capitalization rate range. This is unprecedented in the Mid-Island region. Looking forward, Colliers forecasts:

  • The total vacancy to increase due in large part to the approximately 713 rental units scheduled to be delivered to the Nanaimo market in 2020.
  • The COVID-19 pandemic will likely create some uncertainty in the market and could potentially add downward pressure on rental rates.
  • On a national basis, Multi-family rental is proving to be one of the best performing asset classes for rent collection and well located assets within the Mid Island region will continue to be in high demand.

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Nanaimo Multifamily Market Report Q1 2020

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For More Information, Please Contact:

Tyler Dolan

Managing Director, Vancouver Island

Victoria

As Managing Director, Tyler is responsible for execution of Colliers business strategy on Vancouver Island.  Tyler has and has been active in the commercial real estate industry since 2001, and spent the majority of his career in both real estate and commercial finance with major financial institutions. In May 2018, Tyler assumed the role of Managing Director for the Colliers Vancouver Island office.

Tyler's priorities include business development, employee engagement, professional development, recruiting, financial management and performance, market identity and public relations. Tyler also takes an active role to ensure that all services offered by Colliers are offered to our clients.

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