Newspaper article The Canadian Press

BC Audio 7:35 PM ET

Newspaper article The Canadian Press

BC Audio 7:35 PM ET

Article excerpt

BC Audio 7:35 PM ET

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BC04 - (Commercial-Real-Estate-BC)

VANCOUVER. x-15s. The head of the Real Estate Board of Greater Vancouver says commercial real estate sales in the Lower Mainland jumped to 13-billion dollars in 2016 compared with 8.8-billion dollars the year before. That's a 47 per cent increase over a one-year period. Board president Dan Morrison says the surge happened mostly due to general confidence in a growing B-C economy and because of a shortage of space across the region.

("... with residential properties.") (SOURCE: The Canadian Press)

TAG: Residential real estate prices have skyrocketed across the Vancouver area in recent years, leading the B-C government to bring in a 15 per cent tax on foreign buyers last summer on homes purchased by anyone who isn't a citizen or a permanent resident of Canada. …

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