The Victoria multi-family market has maintained strong momentum through 2018 and the first half of 2019. Vacancy rates remained low while significant capital continued to flow into Greater Victoria with over 17,000 condominium and purpose-built rentals on the horizon.
- The small increase in vacancy from last year can be attributed to the increase in supply in suburban and urban core regions of Greater Victoria.
- Investment interest in the Greater Victoria multi-family market increased by institutional investors and REITS. Given an increase of capital in the hands of these entities investment is expected to increase with many conditional sale contracts in currently in place.
