2021 Q4

Greater Vancouver Office Sales Market Report

Klein | Reports | 2021 - Q4 Commercial Office Market Report
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Sources: Real Estate Board of Greater Vancouver, Commercial Edge; Canadian Real Estate Association, MLS®; Altus Group; Statistics Canada; Landcor; RealNet.

Disclaimer: Data has been obtained from sources considered to be reliable. However, no representation or warranty, expressed or implied, is made as to the accuracy of any of the information, projections or conclusions contained  herein, and the same is submitted subject to errors and omissions, without any obligation to update or correct.

Table Of COntents

Highlights

How Office properties have responded to the market.

100
2021 Q4 Sales Transactions
$110B
2021 Q4 Sales Volume
440

Largest Market Share - City

2021 Q4

Greater Vancouver Overview

Total Sales & Transaction Volume
20172018201920202021
Sales$ Volume%Sales$ Volume%Sales$ Volume%Sales$ Volume%Sales$ Volume%
Burnaby26$ 683,097,82542%31$ 598,009,40428%27$ 217,867,0809%20$ 93,127,01824%28$ 48,960,06211%
Coquitlam3$ 11,150,0001%1$ 2,488,0000%5$ 19,926,0001%0$ 00%4$ 8,275,0002%
New Westminster13$ 66,624,3014%6$ 8,919,3290%5$ 47,363,0002%5$ 7,300,0002%5$ 33,958,7507%
North Vancouver27$ 25,665,3312%14$ 14,051,7751%13$ 14,250,0001%10$ 29,128,0008%8$ 10,584,7502%
Port Coquitlam2$ 900,0000%0$ 00%3$ 2,013,0000%5$ 5,272,4001%2$ 1,301,8700%
Richmond29$ 72,426,9264%18$ 35,904,5002%75$ 340,680,35915%66$ 93,291,58125%28$ 38,293,7408%
Vancouver60$ 751,471,84346%37$ 1,464,510,68069%63$ 1,669,145,00972%37$ 141,041,41637%57$ 322,142,07569%
West Vancouver1$ 5,200,0000%8$ 7,986,5000%1$ 1,482,0000%4$ 11,600,0003%2$ 2,000,0000%
Grand Total132$ 1,616,536,227100%97$ 2,131,870,188100%192$ 2,312,726,448100%147$ 380,760,414100%134$ 465,516,247100%
2017
Burnaby26$ 683,097,82542%
Coquitlam3$ 11,150,0001%
New Westminster13$ 66,624,3014%
North Vancouver27$ 25,665,3312%
Port Coquitlam2$ 900,0000%
Richmond29$ 72,426,9264%
Vancouver60$ 751,471,84346%
West Vancouver1$ 5,200,0000%
Grand Total132$ 1,616,536,227100%
2018
Burnaby31$ 598,009,40428%
Coquitlam1$ 2,488,0000%
New Westminster6$ 8,919,3290%
North Vancouver14$ 14,051,7751%
Port Coquitlam0$ 00%
Richmond18$ 35,904,5002%
Vancouver37$ 1,464,510,68069%
West Vancouver8$ 7,986,5000%
Grand Total97$ 2,131,870,188100%
2019
Burnaby27$ 217,867,0809%
Coquitlam5$ 19,926,0001%
New Westminster5$ 47,363,0002%
North Vancouver13$ 14,250,0001%
Port Coquitlam3$ 2,013,0000%
Richmond75$ 340,680,35915%
Vancouver63$ 1,669,145,00972%
West Vancouver1$ 1,482,0000%
Grand Total192$ 2,312,726,448100%
2020
Burnaby20$ 93,127,01824%
Coquitlam0$ 00%
New Westminster5$ 7,300,0002%
North Vancouver10$ 29,128,0008%
Port Coquitlam5$ 5,272,4001%
Richmond66$ 93,291,58125%
Vancouver37$ 141,041,41637%
West Vancouver4$ 11,600,0003%
Grand Total147$ 380,760,414100%
2021
Burnaby28$ 48,960,06211%
Coquitlam4$ 8,275,0002%
New Westminster5$ 33,958,7507%
North Vancouver8$ 10,584,7502%
Port Coquitlam2$ 1,301,8700%
Richmond28$ 38,293,7408%
Vancouver57$ 322,142,07569%
West Vancouver2$ 2,000,0000%
Grand Total134$ 465,516,247100%
$ Volume And Number Of Transactions
Date$ VolumeTransactions
20171616536226.54161
Qtr1672683653.542
Qtr2477816827.9938
Qtr3244864000.9938
Qtr4221171744.0643
20182313863437.63121
Qtr1505279938.6339
Qtr232725520028
Qtr3126503597535
Qtr421629232419
20192312726448192
Qtr1675536229.2131
Qtr21302425848.653
Qtr3173367058.4877
Qtr4161397311.7131
2020395318151.64165
Qtr192093245.7237
Qtr2232859725.9294
Qtr31936418019
Qtr45100100015
2021465516247.02134
Qtr18091219136
Qtr2139716520.0228
Qtr36999757430
Qtr417488996240
20224087058917
Qtr14087058917
Office Market Share

Office Specialists

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