It’s not only a red-hot residential market in Metro Vancouver.
Commercial property sales are also some of the highest in five years.
Moojan Azizi with Re/Max Vancouver says the strong growth is due to low interest rates and high investor confidence.
“Real Estate, especially land product, is a safe place for people to put their money long term, investment-wise.”
He says some investors are foreign, but most are local.
Azizi adds future development is actually in the suburbs, where growth in e-commerce has driven demand for warehouse and shipping facilities.
The information released Thursday is in the Re/Max 2015 Commercial Investor Report.