Vancouver Real Estate Forum with Peter Altobelli of Yardi
The Vancouver Real Estate Forum recently took place in a digital format. Today, we’re going to hear about the top five highlights from that conference. We have the pleasure of once again welcoming Peter Altobelli, Vice President and General Manager of Yardi, to go through these five key takeaways.
The COVID-19 pandemic continues to impact Vancouver and the rest of the world, but some surprising, positive trends have emerged from it. Peter talks about how Vancouver is still in a great position and why the market correction that has taken place isn’t necesarily unhealthy.
Topics covered include:
- #5: Vancouver continues to be a strong market for investment amid softening activities, particularly for multi-res.
- Rent capping due to the pandemic.
- Challenges and opportunities that may come moving forward.
- #4: The luxury retail market continues to perform well, even throughout the pandemic.
- Reasons why some people have more spending money right now.
- #3: Demand for industrial space remains strong and the vacancy rate remains low.
- Looking at cubed-foot measurements instead of square-foot.
- The low amount of new industrial coming into the Vancouver market.
- #2: Tech growth continues to be strong.
- Why tech firms are choosing Vancouver instead of other Canadian or global cities.
- Storing data internationally that is collected in Canada.
- #1: Government policies continue to impact growth and development in the region.
- Delays working with municipal and provincial governments.
More about our guest….
Peter Altobelli is Vice President of Sales and General Manager for Yardi Canada Ltd. Yardi develops industry-leading property and investment management software for all real estate asset classes.
Peter has worked in the technology industry for more than 30 years, with a foundation in software development for the healthcare sector in the 1980s. His first role involved transforming existing software for an outpatient clinic scheduling system and introducing innovative PC technology for what has now become Hamilton Health Sciences.
The CRE Podcast is powered by First National
Episode sponsor is Yardi.
Listen to Peter’s last appearance on the podcast “Top 5 Highlights: Canadian Apartment Investment Conference” here.