The commercial market has been mixed in Vancouver throughout this year, as mentioned by the managing director of CBRE in Canada. The industrial deals seem to be lower due to the lack of supply, while the downtown office activity appearing strong on the other hand.
The Vancouver Sun was told by Paul Morassuti that the biggest threat in the coming year is the real estate market, which has been highlighted to be slowing down before the changes in the newly rules and regulation.
He said; “the impact on consumers of having their houses now be worth less is there’s going to be a knock-on effect on the economy. If the housing market were to really unravel in a real way that sends up a huge red flag for me.” He also cautioned that if the slow activity in the real estate market continues, the impact will spread from the construction sector to the wider economy.