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June 2012 B.C. Economic Fundamentals

Ally

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Metro Vancouver looks to 'itensify' industrial properties by 2020





Metro Vancouver is investigating ways to `intensify` its industrial properties with warehouse blocks and bulkier buildings, over worries the region could run out of land by 2020 if there`s a substantial spike in global trade and local ports activity.




A Metro discussion paper suggests `optimizing the efficient use of land is crucial,` noting the region will potentially need another 2,500 hectares of industrial properties over the next 20 years if port container volumes continue to grow, requiring more space for trucks and warehouse-related development. With the land base limited, companies can no longer afford to just buy more properties when they want to expand.






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Ally

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Liquefied natural gas race getting thinner




You just can`t beat Americans for enthusiasm. The folks in the Lower 48 states embrace trends with enviable speed, a trait which can be beneficial for others who watch and learn.




Take liquefied natural gas, for example. Back when supplies of the fuel appeared to be waning, between 2007-2009, entrepreneurs south of the border had proposed building 21 on and offshore import terminals. Those were on top of the eight terminals approved by U.S. regulators, and the five terminals already operating.





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Ally

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Metro Vancouver multi-family developments defy 'bubble trouble' as sales stay strong





VANCOUVER - Despite the persistent buzz of "bubble trouble" in the Vancouver condo market, sales of new multi-family developments have been brisk through the first two quarters of 2012, and signs are good for continued growth this year.







First Quarter sales of new multi-family dwellings were up 79 percent from the Fourth Quarter of 2011, and 48 percent over the same quarter last year according to Colliers International's First Quarter MarketShare report on the residential real estate market in Metro Vancouver.







"We will be out gathering data for our Second Quarter report in July, but polling we've done so far is telling us that sales stayed strong through this last quarter," says W. Scott Brown, senior vice president of residential marketing and sales services for Colliers International.






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Ally

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Real estate makes a good investment



I`ve been considering the Real Estate Investment Network`s (REIN) report entitled Top B.C. Investment Towns 2012-2016 which ranks the top 11 cities in B.C. in which to purchase real estate. Prince George came in tenth on the list of eleven with Vancouver at the bottom and Surrey at the top.





At first glance, I was pleased that we were on a desirable ranked list but then my eye drifted to the bottom of the rankings to where our city had settled.





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