Greater Vancouver Area Multi Residential Market Overview

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research article

In Q1 of 2020 16 properties were reported sold – a total of 824 units at an average price/suite of $431,400. This is a stark contrast to Q1 of 2019 where 16 properties sold, but this amounted to only 449 units with an average price/suite of $339,500 (Colliers, RealNet).

On an annualized basis, if the Q1 2020 sales volume was maintained 2020 may become the highest gross sales year on record, more than doubling the sales seen in 2019. Indeed, it would appear that the 2020 year was off to a strong start prior to the COVID-19 pandemic. Now that the market is approximately three months into dealing with this situation there are some key views that are emerging in the market. In this report, we take an informed approach to analyze the current state of the multifamily market, please download the report to learn more. 


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Greater Vancouver Area Multi Residential Market Overview

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For More Information, Please Contact:

Craig Hennigar

Senior Director

Vancouver

Craig is a Senior Director in the Valuation and Advisory Services group at Colliers and holds the AACI, P.App and CFA designations.  He offers appraisal and consulting services in the Greater Vancouver and Fraser Valley area as well as throughout British Columbia with particualr focus on the following assets and services: Commercial Property, Industrial Property, Expropriation Valuation, Hospitality Property and Recreational Land, and Multi-Family Property.

Craig is the former Director of Market Intelligence for Canada as well as a real estate broker and appraiser with over 25 years of experience in commercial real estate with work experience is focused on providing strategic and transactional assistance to national real estate firms.  With professional experience in real estate research, valuation, development, management, finance, consulting, and portfolio management roles he has worked with all major asset classes for valuation of both income producing real estate as well as expropriation, development projects.  His client list includes firms in the finance, technology, aerospace, and logistical industries as well as real  estate firms and has additional work experience providing ongoing economic knowledge, research, forecasting and review of the Canadian and international environment.

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