Vancouver, B.C. – March 5, 2013 –
The dollar value from commercial real estate transactions in the Lower
Mainland eclipsed the $5 billion mark in 2012. This is the first time the region’s commercial real estate market
has reached this mark since 2009, according to data from Commercial Edge—a commercial real estate system
operated by the Real Estate Board of Greater Vancouver (REBGV).
Last year’s $5.21 billion total represents an 11.2 per cent increase from 2011 when the year’s dollar value was
$4.686 billion, a 12 per cent increase from 2010’s total of $4.655 billion, and a 62.1 per cent increase of 2009
when the annual dollar value total was $3.215 billion.
The Commercial EDGE system includes all commercial real estate transactions in the Lower Mainland,
excluding Pitt Meadows and Chilliwack, that have been registered with the Land Title and Survey Authority of
British Columbia since 2009.
There were 1,875 commercial real estate sales in the Lower Mainland in 2012, according to Commercial
EDGE. This is 2.6 per cent below the 1,926 sales recorded in 2011, 9.6 per cent above the 1,710 sales recorded
in 2010 and an increase of 46 per cent from the 1,287 sales recorded in 2009.
“The strength of last year’s commercial real estate market can be attributed in part to an upswing in raw land
sales in the region,” Eugen Klein, REBGV president said. “With this inaugural release of the quarterly
Commercial EDGE report, we hope to help inform the public on trends occurring in our commercial real estate