When Vancouver’s commercial real estate investors weren’t racing a June tax deadline, they were chasing dirt—sparking a historic land-buying spree that redefined the city’s 2024 market.

Vancouver’s 2024 commercial real estate market clocked $10 billion in deals—an 18% annual surge—but the headline wasn’t just about tax deadlines. From industrial land conversions to multi-family mega sites, investors bet big on dirt, reshaping the city’s development future (Altus Group 2025).

The Land Gold Rush

Land transactions dominated 2024, hitting $4.7 billion (+35% YoY), with two sectors leading:

  • Industrial, Commercial, Institutional (ICI) Land: Soared 58% to $2.4 billion as investors targeted logistics hubs near ports and highways.
  • Residential Land: Rose 17% to $2.3 billion, driven by developers scrambling for multi-family sites amid soaring rental demand.

Office’s Comeback & Multi-Family’s Reign

  • Office Sector: Transactions exploded 123% ($1.3B) as falling rates revived interest in Class-A spaces with ESG upgrades.
  • Multi-Family: Jumped 43% ($1.1B), with institutional buyers like Starlight Capital snapping up rental towers.

Industrial’s Cool-Down & Retail’s Niche Bets

  • Industrial: Transactions dropped 28% ($1.9B) as vacancy hit 5.5%—a sign of easing supply crunches.
  • Retail: Edged up 3% ($996M), with investors favoring grocery-anchored plazas and redevelopment plays (e.g., Oakridge-style mixed-use).

Conclusion
Vancouver’s 2024 CRE market wasn’t just tax-driven—it was a land grab. Investors bet on dirt over buildings, signaling long-term confidence in the city’s growth. For 2025, the question isn’t what to buy, but where to plant a flag.

WBN News - Kitsilano Edition

Engage with Bready
Want insights on Vancouver’s land investment opportunities? Let’s connect on LinkedIn , 778-838-3099, or share this article to debate 2025’s next hot sector.

Tags: #WBN Kitsilano Edition #Kits #Kitsilano #Bready Wu #Vancouver CRE #Vancouver Land Investment #Commercial Real Estate #Investor Trends
Signature: Bready Wu | Klein Group Commercial | LinkedIn Profile

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