Many people want to buy commercial real estate in Vancouver for retail, industrial, or other commercial purposes. Take note that location is among the most significant aspects that determine the selling price of a particular property. A top reason is that capital assets grow when land increases in value, and location determines the demand and supply of land or not. These two factors will then go a long way into determining the price of the land. For instance, a parcel of land that is found near the central business district will sell at a higher price than a comparable piece of land on the outskirts of the city.
The Value of Land
When the value of a piece of property increases, it negatively affects the value of buildings and improvements as they depreciate over time.