British Columbia Multifamily Report - 2019

A comprehensive look at BC’s multifamily market over the last few years and a complete summary of the 2019 transactions

February 12, 2020

British Columbia, primarily within Metro Vancouver, experienced a historic bull run from 2016 through 2018 with record setting investment volume in the multifamily sector with severely compressed cap rates and surging per-unit values. 2019 was a sobering year for many in the industry with multifamily investment activity half of what it was in previous years and 33% fewer transactions occurring across the province. Sales velocity of multifamily assets has substantially slowed, but strong investment fundamentals have kept apartment building values relatively stable. With virtually no change in the median price-per-unit, up 1.66% year over year, and the average cap rates rest comfortably at 4.12%. 


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