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British Columbia

Victoria's rental market softens

Victoria, once the Canadian city with the lowest rental vacancy rate, has seen a sharp increase in vacancies and a flatlining of rent increases over the past year, according to Colliers International.

Realtors foresaw Best Buy closures

The closure of six Best Buy stores in B.C.

"Condopocalypse" now forecast for Vancouver

Noted Vancouver housing analyst Frank Schliewinsky is predicting a near collapse in MLS condominium sales across most of Metro Vancouver this year, with sales falling by as much as 50 per cent from a depressed 2012.

B.C.'s tepid GDP beats Canada

British Columbia is expected to benefit from improved economic conditions in key trading nations in the coming year, according to the latest forecasts from the country's leading economists.

Nanaimo commercial sales soar

Nanaimo experienced a record number of large commercial real estate sales in 2012, according to Colliers International. A total of approximately $337 million in commercial real estate sold in 2012 in just 11 properties in the area.

Site C environmental impact statement released

The massive Site C dam project in B.C. Peace region has taken a step forward as B.C.

Mining "boom" report carries caveats

Mining activity in Canada's north could double in the next decade, says a Conference Board of Canada report, but the forecast appears to undervalue current production and is sprinkled with what ifs and maybes.

Vancouver retail developer expands to Prince George

Vancouver-based Platform Properties plans to build an 110,000-square-foot shopping centre along Highway 16 West in Prince George.

Travel slump hits Victoria hotels

A decline in ferry traffic is partly to blame for a dismal 2012 for Victoria's hotel industry, which saw the average hotel room occupancy rate fall to 62 per cent, down 1 per cent from a year earlier, according to Victoria-based Chemistry Consulting.

CMBS start long recovery to respectability

Commercial mortgage back securities make a $500 million comeback By Sam Brown Canadian commercial property owners have relatively few sources of term financing compared to their US counterparts.