Opportunities abound in Nanaimo’s real estate market

Nanaimo, British Columbia, is emerging as one of Canada's most opportune real estate regions. In recent years, the scenic "Harbour City" has recorded an upswing in real estate market growth and activity that continues to attract investors, builders, and industry watchers alike.

Census Says it's a Fast-Growing BC City

The proof, as always, is in the numbers. According to the Canadian 2021 census, Nainamo is tied with Kamloops as the third fastest-growing city in Canada, experiencing a 10 per cent uptick in population between 2016 to 2020. Naturally, this upswell has sparked growth in the City's real estate market. The Regional District of Nanaimo (RDN) reports that the total assessed value of properties in the region increased by more than 13 per cent in the last year to $66 billion.

Nanaimo’s real estate market strength is also reflected in a report from BC Assessments, which indicates that housing prices have risen by over 30 per cent over a year, while light industrial and commercial property assessments rose an average 29.1 per cent and 27.7 per cent, respectively, across the City.

Projects Are Taking Off

Several compelling real estate projects are driving further interest in the region. They include a multi-phased plan to redevelop Nanaimo’s downtown core, an initiative that would include upgrades to commercial properties, transportation infrastructure, and public spaces throughout the central Commercial St. and beyond. Elsewhere, plans are in place for a $100 million-dollar expansion of Nanaimo’s container port led by DP World, which is slated to create over 1,000 new jobs.

In short: Nanaimo's real estate sector is heating up. And with real estate prices still remaining well below those posted in nearby Victoria, there is reason to believe these market conditions and activity levels will persist for some time.

Nanaimo: In the middle of the action

RJC Engineers has been eyeing Nanaimo’s real estate market with great interest and confidence. And recently, the firm’s Nanaimo office relocated to a bigger space to accommodate the growing team and the intensifying building community within it.

Led by managing Principals Leon Plett (structural engineering) and Terry Bergen (building science and restoration), supported by Regional Manager Caleb Goertz, RJC Engineers’ Nanaimo team at 238 Franklyn Street endeavours to provide the accessibility and accountability of a local office, supported by the depth of our larger, Canada-wide firm. Collectively, they deliver a range of high-level client services, including:

• •Structural engineering
• •Building science
• •Structural restoration
• •Structural glass engineering
• •Parking facility design
• •Building energy modelling
• •Audits and studies

Work With Our New Nanaimo Office Today

Nanaimo is marking a new chapter in its ongoing growth. Through its new office, RJC Engineers is ready to serve its building community and eager to be positioned on the ground floor. Contact us today to learn more.