Metro Vancouver apartment building sales are on par with last year, although values have soared in the central city,
according to a recently released report.
“They [buyers] are buying tired buildings that haven’t been kept up and then spending a lot of money on renovating
them,” said apartment broker David Goodman, co-owner of HQ Commercial Real Estate Services and author of the
Goodman Report, a Metro Vancouver apartment building market review.
The report concluded that in the first six months this year, 53 buildings changed hands compared to 52 by this time last year, with 28 of the 2012 sales in the city of Vancouver and 25 in other municipalities..