Metro Vancouver developers ease off on land purchases

Thu, Aug 8, 2013

Vancouver Real Estate

Metro Vancouver developers slowed down on purchasing new land for residential housing projects over the first several months of 2013, but that was less notable than the big increase in land purchases over the same period a year ago, according to a new report. Commercial real estate research firm RealNet recorded $329 million worth of commercial land sales in Metro Vancouver over the first four months of 2013, which was down 30 per cent from the $472 million made by developers over the same period of 2012, which was a high point for the region.

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