Greater Vancouver commercial real estate transactions down 8.3% in 2025
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VANCOUVER – Greater Vancouver Realtors say 2025 was the slowest year since 2009 for commercial transactions in the region, with a fall of 8.3 per cent overall when compared with 2024.
The association says the total dollar volume of commercial transactions in the Lower Mainland last year was $7.466 billion, a 23.2 per cent decrease from $9.723 billion in 2024.
A news release says there were 212 commercial land sales in 2025, which was a nearly 50 per cent decrease from the year before.
The bright spot last year was in office sales, which the group says were up by nearly 60 per cent with 367 sales in 2025 compared with 232 in 2024.
There was also a 10.7 per cent increase in commercial “retail and other” sales, but a 15.7 per cent decrease in industrial sales and a nearly 30 per cent drop in multi-family sales in 2025 from the year before.
Andrew Lis, the association’s chief economist, says the decline in overall transaction volumes is “relatively modest” when “considering that numerous uncertainty-inducing events transpired globally” in 2025.
This report by The Canadian Press was first published April 9, 2026.
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