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.
Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate.
Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s.
In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star.
Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.