InfoNovember 8, 2013 · Real Estate
Vancouver Business Property is a Hot Commodity
According to recent reports, near-record demand has led to Vancouver business or commercial property being one of the hottest commodities on the real estate market this year. Richard Morrison and his team at Remax Real Estate are ready to serve Vancouver business people with sales or purchases of business property.Press Release VideoLoading the player...Details(prREACH)
New construction and blockbuster sales have pushed Vancouver’s commercial property into the spotlight, outshining a disappointing first quarter in home sales, according to recent sources. While home sales are now on the rise thanks to modulating prices and buyer fears of interest rate increases, nothing like the commercial explosion has been seen in the residential real estate market.
Richard Morrison of Remax Real Estate notes that owners of downtown property are refusing to sell, leading to a high level of demand for commercial real estate. Nevertheless, the tight-fisted approach of current property owners cannot put a damper on the first half of 2013, when a record $724 million worth of commercial property changed hands.
While most people are not concerned with multi-million dollar office building transactions, the sale of downtown condominiums and apartment buildings hits closer to home. The Vancouver condo market has been unaffected by buyer sluggishness; in fact, buyers are snapping up almost any living space that becomes available in the downtown area, with or without parking.
“Whether buyers are seeking a place to live, work or both, they are not abandoning downtown Vancouver,” says Morrison. “Business property downtown may be hard to come by but people are willing to wait. They know that Vancouver’s property values are not going to go down; if anything, these properties should begin to increase in value very soon.”
Those looking for business or commercial property can call on the Remax Realty Team and Richard Morrison to find the right property quickly and at the right price, or view select properties at www.richardmorrison.ca.
About Richard Morrison and the Remax Realty Team: Richard Morrison and the team at Remax Realty are ready to work with those who are looking for business property or those who may wish to sell their current business location, as well as those searching for condos downtown or those who have investment property for sale. No matter what type of property is in question, the Remax Real Estate Team is ready to act for either the buyer or the seller and ensure a smooth sales transaction. www.richardmorrison.ca
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