Vancouver commercial real estate likely to be new focus

Toronto

WEALTHY foreign investors are likely to shift their money to the commercial side of Vancouver's real estate market to avoid a housing tax, just as deals for office, retail and industrial properties reach an all-time high, brokerage Re/Max Holdings Inc said.

Commercial real estate transactions in the city climbed to C$7.14 billion (S$7.3 billion) in the first half of 2016, almost double the year-earlier tally, and nearly triple the deals in the same period of 2014, Re/Max said in a report on Wednesday.