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Victoria Multifamily Report Year End 2022

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research article

The Greater Victoria multifamily market had another dominant year in 2022 with total sales volume reaching $768,025,825 which is the second highest recorded volume surpassing every year prior to 2021.

  • Greater Victoria has a rental vacancy rate of 1.5%, the sixth lowest in Canada.
  • Presently, there are 6,449 rental units under construction in the Greater Victoria area.
  • Established inventory in 2022 experienced increased demand reaching 2,034 units sold, accounting for 88% of unit sales.

Victoria Multifamily Report Year End 2022

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Tyler Dolan

Managing Director | Vancouver Island


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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Adam Jacobs

Head of Research | Canada

Toronto Downtown

Colliers Canada's head of research, leading a cross-country team of 20 mapping, analytics and research professionals. Formerly head of Canada research at Cushman Wakefield and Director of Analytics at Oxford Properties. Featured in mainstream publications such as the Toronto Star, industry publications and podcasts. Specializing in the big picture and the fundamentals driving real estate - demographics, the macro environment and the global economy. 

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