British Columbia Year-End 2022 Investment Review

British Columbia Year-End 2022 Investment Review

In 2022, the commercial real estate market in British Columbia showed resilience despite macroeconomic and geopolitical challenges that persisted throughout the year. Despite the Bank of Canada’s seven consecutive interest rate increases, acquisitions and sales continued to take place throughout the province.

The following sales figures were recorded in 2022:

  • $1.95 billion in industrial sales
  • $1.9 billion in multi-family sales
  • $1.3 billion in retail sales
  • $2 billion in commercial land sales
  • $613 million in office sales
  • $5 billion in residential land sales
  • $3.9 billion in investment sales, which includes industrial, office, and retail sales.

Buyers and Sellers


Private investors led the way in 2022, representing 92% of all acquisitions and investing a total of $10.5 billion. This represents a slight increase in their market share from the previous year, as private investment continued to be the primary source of capital in BC. In the industrial property market, private investors were particularly active, accounting for 123 of the 136 total deals and investing $1.75 billion out of the $1.95 billion total investment in 2022. As the economic environment remained uncertain, some buyers were more cautious than others in their investment strategies.


Private vendors were responsible for 97% of all deals in 2022, representing a total capital of $11.3 billion. Residential land transactions were the most common, accounting for 39% of all deals, while institutions and REITs also played an active role with total sales of $918 million and $418 million, respectively. Like buyers, sellers were also cautious in navigating the unpredictable economic landscape throughout the year. While some opted to proceed with transactions, others held back to assess the changing environment and wait for more favorable conditions.

Attached below is the PDF version of this report:

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Year-End 2022 Investment Review British Columbia

DISCLAIMER: This information is for educational and informational purposes only and should not be considered as investment advice. Any investment decision should be made based on your own research and analysis. You should consult with a financial advisor or other professional to determine what may be best for your individual needs and risk tolerance. We encourage you to do your own research before making any investment decisions. Investing involves risks, including possible loss of principal.

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