Falling oil prices hurt commercial property markets across much of Western Canada in 2015’s first half, but Greater Vancouver witnessed a 14% spike in commercial sales versus the same period last year, a new Re/Max report says. Greater Vancouver had 591 sales in Q2, the busiest for commercial activity in five years. Re/Max regional EVP Elton Ash notes investor confidence in Vancouver has remained high despite woes elsewhere in the west, and that “land is in highest demand from local companies looking at long-term opportunities,” driving desire for raw plots in the suburbs.
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