Saeed Farahani’s Blog
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Vancouver’s Townhome Market: Early-Q1 Statistics
Number of units sold: 285, ↑ 82.7% yearly Active listings: 1,247
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Empowering Vancouver: Housing Challenges & Solutions
Vancouver's soaring housing costs pose significant challenges for young families and the local economy.Affordability barriers force young people out of the housing market, especially in suburban areas.
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Unlocking Vancouver’s Real Estate Potential
Investment Opportunities: Vancouver's Real Estate market offers diverse investment options with potential for growth.Dream Home Destination: Find your dream home in Vancouver's dynamic housing market.
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Happy Nowruz
Nowruz is a 3,000-year-old festival, making it one of the oldest in the world. Haft-Sin is a Nowruz table, featuring 7 symbolic items, all beginning with "sin" and representing different aspects of life. Nowruz celebrated by over 300M worldwide, including Iran, Afghanistan, Tajikistan, Uzbekistan, Azerbaijan, and many more. Nowruz is a time for forgiveness and…
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Vancouver’s Budget Task Force Recommendations
Define Core Responsibilities: Identify essential city functions to prioritize in budgeting. Analyze Spending: Carefully review expenses beyond core responsibilities.
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Early-Q1 Median Rent for Houses and Condos in Vancouver
The median rent for 1-bed houses: $2,300, ↓ 1% MoM, and ↑ 5% yearly The median rent for 2-bed houses: $3,000, ↓ 17% MoM, and unchanged yearly
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Vancouver’s Real Estate Rebound in January 2024
Vancouver experienced a strong sales surge at the beginning of the year, with a 12% increase in home sales compared to the previous month. Single-family dwellings saw significant growth, with 1,427 homes sold. New listings rose by 14%, but inventory also increased by 9.8%. Affordability remains a concern, and the MLS House Price Index showed…
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JANUARY CAPITAL REGION COMMERCIAL REAL ESTATE REPORT
Victoria council sent a proposal for a 23-storey, 269-unit rental tower to public hearing. A developer in Esquimalt hopes to add two floors and sixteen units to a residential highrise. A downtown development may switch office space to rental apartments. BC Housing's modular supportive housing projects are reaching occupancy. Victoria real estate prices fell in…
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Metro Vancouver Housing Costs Soar Before Construction
Budgets for 2 affordable rental developments owned and operated by Metro Vancouver ↑ ~2X before construction began. Cost Increases: – Connection project: ↑ 89% to $121M – Steller project: ↑ 104% to $94M
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Vancouver Housing Market Rebounds: A Tale of Resilience and Recovery
In Vancouver, the housing market shows signs of recovery with increased interest in semi-detached homes. A recent sale on Dunbar Street, with 27 offers, highlights the area's desirability. The market's rebound is attributed to factors like potential interest rate cuts. The resilience and growth in the market offer hope for buyers and sellers in 2024.…
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