5-Star Rated on Google
Trusted By The Top CRE Firms In North America
Highest Quality, Consistent Process, Quickest Turnaround

Vancouver’s Commercial Real Estate Market: A Positive Outlook for 2025

As Vancouver’s commercial real estate (CRE) market heads into 2025, there’s cautious optimism on the horizon. Despite economic adjustments and sector-specific challenges, renewed investor confidence and promising trends in key areas signal brighter prospects ahead.

At CBRE’s Vancouver Market Outlook event on November 7, CBRE Vancouver Managing Director Jason Kiselbach outlined a nuanced yet hopeful forecast:

“Overall, we are heading in the right direction and expect more positive news in 2025.”

Here’s a closer look at the key insights shaping Vancouver’s CRE landscape:


Office Market Stabilizes

The downtown office market, with a vacancy rate between 11-12%, has struggled in recent years, but signs of recovery are emerging. Tenant demand is diversifying, with industries such as engineering, legal, business services, and tech driving renewed interest. Notably, CBRE is tracking nearly 800,000 square feet of downtown office space requirements.

Larger occupiers are committing to long-term leases again, with 70% of transactions in the past two years exceeding five-year terms. This marks a return of stability and confidence in office real estate, particularly among medium and large tenants.


Industrial Sector Faces Adjustments

Vancouver’s industrial market, once defined by extremely tight supply, is undergoing a period of adjustment. An influx of new developments has pushed availability rates higher, with 2024 recording the lowest pre-leasing activity in seven years.

While demand has cooled slightly, modern industrial facilities remain a strong asset class, driven by logistical needs and innovation in property design.


Retail Thrives Amid Economic Shifts

Retail in Metro Vancouver remains robust, buoyed by population growth, tourism, and steady consumer spending across various sectors. Prime locations and well-known brands continue to thrive, particularly in major retail corridors and suburban grocery-anchored developments.

However, rising economic pressures could challenge retailers in non-essential or luxury segments. Retail construction has slowed, a trend expected to persist into 2025.


Multifamily Market: Resilient but Softening

With a vacancy rate below 1%, Vancouver’s multifamily market remains one of the tightest in North America. However, rental rates are beginning to soften. Potential reasons include shifts in population dynamics, economic headwinds, and the financial limits of renters in the region. Developers and investors are closely watching these trends as they plan for 2025.


Investment Sales Show Signs of Recovery

Investment sales in Vancouver are gaining momentum after a subdued 2023. The total value of commercial properties traded in 2024 is up 5% compared to the five-year average, with land, industrial, and retail assets leading the charge.

High-profile transactions, such as the largest office sale in five years and a record-breaking industrial land deal, reflect growing confidence among institutional investors. Multifamily and industrial sectors are expected to see significant institutional activity in the coming year.


Development Land Faces Headwinds

Development land remains a challenging sector, particularly for residential and mixed-use projects. Rising construction and financing costs, coupled with reduced project revenues, have dampened demand. Distressed sales accounted for 13% of residential land transactions in the first half of 2024, a trend expected to continue through early 2025.


Tech-Driven Visual Solutions from VidTech

As Vancouver’s CRE market continues to evolve, visual storytelling is playing a pivotal role in showcasing properties and opportunities. VidTech helps investors and developers gain an edge with stunning 4K satellite and drone footage, enhanced by data overlays that bring insights to life. From industrial parks to downtown office towers, VidTech provides the visual clarity and analytics needed to make informed decisions in a competitive market.

Learn more at VidTech.com to elevate your commercial real estate presentations with precision and impact.

Looking for a Custom Solution? Talk to a CRE Video Expert.

To discuss custom solutions, or book your initial flight, please share some details about yourself. Our team will respond promptly.

Looking for Professional Guidance to Select the Ideal CRE Video Marketing Solution for Your Project?

Sharing is Caring:

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on email
Share on whatsapp
Share on reddit

Century Partners Real Estate Order Form

Product: Aerial + Ground Photos Package

FNRP Order Form

Product: Leasing Package

Atlantic Retail Order Form

Product: Trailer

Atlantic Retail Order Form

Product: Standard

Atlantic Retail Order Form

Product: Premium

Place Videoms Order

Product: CAR WASH or HSD: Existing Site Submittal

Place an order

Product: Pitch

Place an order

Product: Photos-Only

Place an order

Product: Trailer

Place an order

Product: Premium

Place an order

Product: Premium Plus

Place an order

All JLL Invoices are handled internally by JLL Corporate. JLL Corporate will attach the PO # and any other necessary information, based on the Market and Business Unit information you select below. JLL Property Management will receive invoices directly.

Product: Pitch

Place an order

All JLL Invoices are handled internally by JLL Corporate. JLL Corporate will attach the PO # and any other necessary information, based on the Market and Business Unit information you select below. JLL Property Management will receive invoices directly.

Product: Trailer

Place an order

All JLL Invoices are handled internally by JLL Corporate. JLL Corporate will attach the PO # and any other necessary information, based on the Market and Business Unit information you select below. JLL Property Management will receive invoices directly.

Product: Standard Videom

Place an order

All JLL Invoices are handled internally by JLL Corporate. JLL Corporate will attach the PO # and any other necessary information, based on the Market and Business Unit information you select below. JLL Property Management will receive invoices directly.

Product: Premium Videom

FNRP Order Form

Product: Pitch

FNRP Order Form

Product: Investment - Retail

Colliers Florida Order Form

Product: Drone Package

Gomez Order Form

Product: Just Closed

Gomez Order Form

Product: Pitch

Gomez Order Form

Product: Standard

Gomez Order Form

Product: Basic

Gomez Order Form

Product: Premium

GLBG Order Form

Product: Standard

GLBG Order Form

Product: Premium

Pegasus Order Form

Product: Newly Constructed

Pegasus Order Form

Product: Existing Building

Pegasus Order Form

Product: Development Site

Place an order

Product: Economy

Place an order

Product: FOOTAGE-ONLY PACKAGE

Place Videoms Order

Product: Traditional site submittal

Atlantic Retail Order Form

Product: Photos-Only

Colliers Florida Order Form

Product: Standard Package

Century Partners Real Estate Order Form

Product: Aerial Photos Package

Urban Edge Order Form

Product: Premium

Marcus & Millichap Order Form

Product: Standard

CIRE Equity Order Form

Product: Exterior Photos

CIRE Equity Order Form

Product: Pitch + Photos

CIRE Equity Order Form

Product: Photo Package

CIRE Equity Order Form

Product: Vidspection – Site Visit

*Includes: The capturing of additional drone footage of the same subject property for one of the following 3 scenarios:

  1. An additional 100,000 SF of a developed property.
  2. An additional 25 Acres of an undeveloped property.
  3. A second launch site for the drone at the same property if there is a gap between film sites between 100-500 yards apart. Footage to be captured during the same site visit as the standalone Videom product purchased.

CIRE Equity Order Form

Product: Premium

ASOC is Now VidTech

We are thrilled to announce that ASOC has been acquired by VidTech. Our journey has taken an exciting turn as we join forces with a leader in digital innovation.

As we integrate with VidTech, you will be redirected to the VidTech website where you can discover a broader range of solutions and services. We thank you for your continued support and look forward to serving you with an expanded portfolio.

Premium Trailer

Product: Premium Trailer

Premium Plus Trailer

Product: Premium Plus Trailer

GLBG Order Form

Product: Photography Package

GLBG Order Form

Product: Pitch

Urban Edge Order Form

Product: Photos-Only

Urban Edge Order Form

Product: Standard