Greater Vancouver Realtors say 2025 was the slowest year since 2009 for commercial transactions in the region, with a fall of 8.3% overall when compared with 2024.
The association says the total dollar volume of commercial transactions in the Lower Mainland last year was $7.466 billion, a 23.2% decrease from $9.723 billion in 2024.
A news release says there were 212 commercial land sales in 2025, which was a nearly 50% decrease from the year before.
The bright spot last year was in office sales, which the group says were up by nearly 60% with 367 sales in 2025 compared with 232 in 2024.
There was also a 10.7% increase in commercial “retail and other” sales, but a 15.7% decrease in industrial sales and a nearly 30% drop in multi-family sales in 2025 from the year before.
Andrew Lis, the association’s chief economist, says the decline in overall transaction volumes is “relatively modest” when “considering that numerous uncertainty-inducing events transpired globally” in 2025.
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Last modified: April 10, 2026