Private investors are the most active commercial real estate market players in B.C., says a new report from Avison Young.

Private buyers accounted for 85% of all acquisitions in the first half; meanwhile, private vendors were involved in 98% of sales transactions, said the company in its B.C. first-half investment report.

Institutional chose to preserve cash and rebalance their portfolios in the first six months of the year.

“It is expected that institutional investors and other non-private actors will resume market activity once there is greater certainty surrounding interest-rate movements,” said Avison Young.

Heightened interest rates and cost pressures have reduced developer appetite. But industrial real estate demand remains strong despite a slowdown in investment across all asset classes.