Despite the economic and social challenge brought on by the global pandemic, the Victoria Multifamily sector saw a continued success as total sales in the apartment rental sector were more than $423 Million in 2020.
- The average rates for condo and rental units saw a 3.3% rise from $1,221 in Q4 2019 to $1,275 in Q4 2020 in the Greater Victoria market.
- REITs and institutional investors continue to maintain more focus on not only the Greater Victoria market but on the Mid Island markets of Nanaimo, Courtenay, and Comox as well.