Lance Coulson, our guest today, is the Executive Vice President of the National Apartment Group & Investment Properties Team at CBRE. He operates in Vancouver and specializes in apartments; a perfect skillset to provide us with insight on how that asset class is performing during the COVID-19 pandemic.
Lance explains some unique aspects of his work at CBRE and provides a look at how the Vancouver market was performing in 2019. He tells us what he has been seeing in the city during COVID-19 and what he thinks the market will look like in the coming months.
Topics covered include:
- What was transpiring in Vancouver’s real estate market in 2019.
- Decoupling of income and rent levels.
- Current required price/rent for purpose-built to make sense.
- Valuations during COVID-19 and where they are headed.
- The strata wind-up strategy.
- How clients are adapting to a changing insurance world.
- What Lance sees happening over the next 60 to 120 days.
- Lance’s rent forecasts.
- Potential first-time home buyers in Vancouver being forced to rent.
- New builds versus old stock.
- The sub-market in Vancouver that Lance would invest in.
- The bright future for Vancouver.
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More about our guest:
Lance Coulson is the Executive Vice President of the National Apartment Group – BC, an experienced group of 6 highly qualified and high performing real estate professionals. Lance is an award winning commercial real estate broker with over 22 years of sales experience in commercial real estate, specializing primarily in the sale of Rental Apartment Buildings, new purpose-built rental sales & consultation, strata wind-up’s and multi-family development sites throughout British Columbia.
Throughout his career Lance has been involved in more than $3 billion* in sales transactions and is known as a market leader, having transacted major multi-family dispositions with National and International scope on behalf of numerous private apartment owners and many of Canada’s most prestigious real estate companies.
Lance’s CBRE National Apartment Group – BC team have established themselves as one of the leading multi-family sales teams in British Columbia, consistently leading in total transactions and setting new benchmarks for pricing that was thought by the marketplace to be unattainable.