The Vancouver Real Estate Forum recently took place in a digital format. Today, we’re going to hear about the top five highlights from that conference. We have the pleasure of once again welcoming Peter Altobelli, Vice President and General Manager of Yardi, to go through these five key takeaways.
The COVID-19 pandemic continues to impact Vancouver and the rest of the world, but some surprising, positive trends have emerged from it. Peter talks about how Vancouver is still in a great position and why the market correction that has happened is healthy.
Topics covered include:
• #5: Vancouver continues to be a strong market for investment amid softening activities, particularly for multi-res.
• Rent capping due to the pandemic.
• Challenges and opportunities that may come moving forward.
• #4: The luxury retail market continues to perform well, even throughout the pandemic.
• Reasons why people have more spending money right now.
• #3: Demand for industrial space remains strong and the vacancy rate remains low.
• Looking at cubed-foot measurements instead of square-foot.
• The low amount of new industrial coming into the Vancouver market.
• #2: Tech growth continues to be strong.
• Why tech firms are choosing Vancouver instead of other Canadian cities.
• Storing data that is collected in Canada.
• #1: Government policies continue to impact growth and development in the region.
• Difficulties working with municipal and provincial governments.
Released: October 13, 2020