No Comments

Apartment Building Listings Provincial Summary

February 20, 2017 – Total apartment buildings listings in British Columbia include 118 buildings with 2,944 apartment units currently on the market.

New apartment building listings in Northern BC make up the largest regional inventory for sale in the province.  Several portfolio properties on the coast are currently on the market.  Asking prices on the northern coast of British Columbia are at all time low cap rates.  Speculation over LNG refining and export facilities is driving price growth.  Asking prices per door are getting pushed higher and higher by speculators who bought in at high prices a few years ago.

City of Vancouver contains the creates number of active buildings for sale with 29 current listings.  And, Victoria multifamily cap rates hit a new low with a current asking price cap rate of 3.62%, the second lowest market in BC.

Provincial average asking price per unit is $242,097.  Of particular note is Victoria, where apartment building listings prices are rising to the mid-high $200,000s.

 

Total Listings

Total Apt Units For Sale

Average Price Per Unit

Average Cap Rate

Vancouver

29

483

$497,136

2.30%

Metro Vancouver

16

368

$373,516

3.44%

Fraser Valley

13

410

$213,501

3.87%

Northern BC

19

570

$107,062

5.75%

Okanagan

17

396

$138,544

5.56%

Victoria

8

261

$238,833

3.62%

Vancouver Island

14

390

$139,213

5.39%

Kootenay

2

66

$61,083

7.24%

All British Columbia

118

2,944

$242,097

4.29%