Category: Uncategorized
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Check out my new listing Address: 32822 2 AVENUE
Prime Development Opportunity in Downtown Mission! Unlock the potential of this multifamily zoned lot, perfect for development. Combine with 32834 2nd Ave to create up to 12 townhouses. The lot is already subdivided with 2 PID numbers. The existing home features 2 bedrooms, 2 bathrooms, and a finished walk-out basement. Enjoy updates that preserve its…
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Metro Vancouver office vacancy rates increase amid development slowdown
Office vacancy rates in Metro Vancouver rose to 10.4% in Q2 2024, up 0.3% from the previous quarter, according to a report. Downtown rates increased from 12.5% to 12.8%, driven by new supply from a large office tower. The availability of large downtown spaces grew from 7.8 million to 8.2 million square feet, with average…
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Metro Vancouver and Fraser Valley homebuyers still hesitant despite Bank of Canada rate cuts
Homebuyers in Metro Vancouver and Fraser Valley remain hesitant despite recent Bank of Canada rate cuts. July 2024 saw home sales drop 5% in Metro Vancouver and 7% in Fraser Valley compared to previous months, with both regions experiencing significant increases in available listings. Benchmark home prices have slightly decreased, with the overall price in…
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Vancouver’s Iconic Views: Protected or Sacrificed?
Vancouver’s revised view-protection rules now include fewer protected views, impacting city skyline and development. These changes could result in 20 million square meters of additional development over the next century.
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Why Is Vancouver Property Investor’s Safe Bet?
Private investors continue to see Vancouver as a low-risk, high-reward property market opportunity. Vancouver's capitalization rates are among the lowest in Canada, indicating strong potential returns on investment.
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Vancouver Faces Housing Market Challenges Amid Rising Costs
Vancouver's housing market is facing challenges due to rising home prices and increased property taxes, which have risen by 7.5% recently, with another hike proposed for 2025. Many development projects have stalled as costs soar and prices fall, making them financially unviable. Local leaders are considering slowing population growth to manage infrastructure demands, but aging…
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Vancouver Wants Housing Plan Disclosure Order Quashed
Vancouver was ordered to disclose rental housing plans under the Freedom of Information Act. The city withheld information citing harm to financial, economic, and third-party interests.
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What Vancouver’s empty home tax really means for Canada’s housing supply
The Canadian housing market is struggling with a supply-demand imbalance, leading to higher property prices, rents, and homelessness. Policymakers are using short-term measures like vacant property taxes, such as Vancouver's increase from 1% to 3%, which has improved housing availability but not reduced rental prices. A comprehensive strategy, including supply-side measures and affordable housing initiatives,…
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New Sunrise Village affordable homes being built in Vancouver
Construction has started on 146 new affordable rental homes at Sunrise Village in Vancouver, located at 2924 Venables St. The project will feature two six-storey buildings, replacing a 64-unit low-rise. It will provide 82 net-new affordable units, with former tenants given the right of first refusal. Set to open in 2027, the development will include…
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Housing construction slowdown hitting Vancouver
Housing construction in the Vancouver area has significantly declined, with a 15% drop in new housing starts in July 2024 compared to the previous year. Factors such as high interest rates, rising construction costs, and permitting delays are hindering development, despite government efforts to increase housing supply. Predictions indicate further declines in housing starts, with…