Last year was a “solid” year for Metro Vancouver’s apartment market, says an annual review by Goodman Commercial Inc.
Thursday’s report said dollar volumes increased 71 per cent to $1.78 billion in 2024 compared with $1.04 billion in 2023.
Meanwhile, the number of transactions rose from 73 to 97 during that same period.
“Looking closer, a handful of large transactions drove the dollar volumes, unusual for the Metro Â鶹´«Ã½Ó³»market where properties of scale can be hard to pry loose,” said the report.
The performance of non-profit and government buyers was “remarkable,” said the report.
Four transactions took place in 2022, and two in 2023. But the sector acquired 18 properties in 2024 for a total of $366 million—21 per cent of total dollar volume.
“The voter-rich suburbs were the main beneficiary of all this taxpayer-funded buying, accounting for 14 of the 18 transactions,” said the report.
