The Commercial Leading Index (CLI) provides insight on early signals of turning points between expansions and slowdowns in commercial real estate. The BCREA CLI "forecasts changes in broad commercial real estate activity. [Their] research shows that the variables that compose the CLI reliably forecast BC commercial real estate activity at a lag of two to four quarters. The index is revised each quarter, due to revisions in the underlying data". 

For the fifth consecutive quarter, the CLI has seen another rise in index points of 0.5 from the 2016 Q4 to 2017 Q1. The index is now 128.0 which is a 4% increase from a year ago and a 0.4% increase on a quarterly basis. The economic activity and employment components of the CLI have been contributing factors to the economic and employment growth in the province and BC has been continually leading all provinces in this type of growth. There are indications of further growth in investment, leasing and other commercial real estate over the next two to four quarters as signaled by the CLI trend.

The increase in the CLI is reflective of the economic growth in BC with its real GDP growth exceeding 3%, which is the second time this has occurred in the past 37 years. This can be attributable to key commercial sectors such as retail and wholesale trade along with the increase in manufacturing sales. As for employment, 2016 ended on a high note with an increase of over 3% in employment which has trickled into 2017.

For all your commercial and residential real estate needs, contact Amalia Liapis at 604-618-7000 or alternatively at amalia@wesellvancouver.ca

Source: British Columbia Real Estate Association

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We'll uncover some helpful tips that will help any entrepreneur in their real estate acquisition process. Acquiring real estate may be costly but a worthwhile long-term investment, provided that the business owner exercises their due diligence and executes a proper plan of action. A benefit of acquiring real property is that it will most likely appreciate in value. Unlike renting, you can deduct the cost of a depreciable property over its useful life as a yearly deduction for corporate taxes as a Capital Cost Allowance.

Tips for Success

1. Understand the local real estate market
Firstly, choosing the right location for your business is vital. Find a space that would adapt to your business needs and is in a prime location with demographics that fit your target market. Having an understanding of zoning and environmental regulations is another important success factor.

2.Seek advice from an independent commercial real estate agent
Luckily for you, you don't have to look any further. Our boutique firm is experienced in commercial real estate and we are always available to help you along with the purchasing process. 

3. Consult an accountant
Accountants can help you with the tax implications of the acquisition of real property. They can also advise on ways to minimize taxes and get the most out of your purchase.

4. Obtain approval for financing
In order to obtain approval, bankers / lenders will want to see financial statements, past and projected cash flows etc. You should shop around for the best financing package available that meets your needs. Note that while the interest rate is important, you should look into other factors as well. Such factors include repayment terms, fee structures, financing requirements etc.

5. Choose the right contractors and business professionals
It's important to have contractors and business professionals with experience, are highly reputable and are responsive to your needs. We can get you in contact with business professionals we have worked with in the past and who have a wealth of knowledge and experience. 

For all your real estate needs, contact Amalia Liapis at 604-618-7000 or at amalia@wesellvancouver.ca or Kane Ryan at 778-223-5961 or at kane@wesellvancouver.ca.

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Below you will find the commercial sales activity broken down by category for the Lower Mainland for Quarter 3 of 2016 and 2015 and the relevant percentage change. As well, there is a year-to-date comparison which encompasses the first three quarters. Quarter 4 statistics should be released in the next few weeks! The statistics for the Lower Mainland are inclusive of the following 18 cities: Abbotsford, Burnaby, Chilliwack, Coquitlam, Delta, Langley, Maple Ridge, Mission, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, Surrey, Vancouver, West Vancouver and White Rock. Thus, the first table is not representative of only Vancouver commercial real estate (a separate table will break down the statistics for Vancouver).

Below you will find information from the above table which has the Vancouver data extracted from it. While the Quarter 3 results year over year have primarily seen a decrease in both unit sales and sales dollars, the year-to-date figures show a different story. All four categories see an increase in sales dollars when comparing 2015 to 2016. 

In addition to residential real estate and property management, we also do commercial real estate here at WeSellVancouver. We'd love to help you with your next investment or business venture. Contact the WSV Real Estate Services office at 604-801-6654 or at info@wesellvancouver.ca for all your real estate needs.

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Investment in commercial real estate is a great way to enhance the value of your portfolio. Take a hold of this rare opportunity to OWN waterfront commercial space along Beach Avenue! Contact Kris Hall today at info@wesellvancouver.ca or alternatively at 604-716-6155 for additional information on this listing.

EDIT: As of January 14, 2016, the property has been SOLD! 

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Our last blog took a look at 2014 statistics in the realm of commercial real estate. Today we'll be exploring statistics for 2015 thus far. As noted in our last blog, commercial land sales have driven sales activity for the first quarter. It has been an upward trend for the past four years in terms of dollar value in land sales.

“It was the most active first quarter we’ve seen in our commercial market over the last five years,” Darcy McLeod, REBGV president said. “This activity reflects the growth we’re seeing in related sectors within our economy such as retail and manufacturing.”

Below you will find a comparison chart of Quarter 1 commercial real estate activity by category for the years 2014 and 2015. As you can see, the number of sales has seen an increase from 2014 to 2015 whereas the dollar value for each respective category has increased in some categories and decreased in others.

Category Classifications

Land - Includes properties that are holding properties, farmland, garden centres, redevelopment sites, land assembly sites, vineyards, etc.

Office and Retail - These properties are defined by the zoning according to each municipality and must have a building on the site. This includes office, office condo, retail, retail condo, shopping centre, gas station, car dealerships, banks, community centres, daycares, educational facility, institutional, golf courses, movie threatre, hotel, churches, restaurants, truck stops, etc.

Industrial - These are defined by the zoning according to each municipality and must have a building on the site. This includes warehouses, warehouse bays and multi-bay warehouses.

Multi-Family - These include nursing homes, high rises, low rises and any condo or townhome properties containing four or more units with at least one zoned for commercial use.

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