Saeed Farahani’s Blog

A 5.5% increase aims to support operational costs and renew aging utility infrastructure critical for housing. Significant investment in utility services, including sewerage connections, supports the housing sector’s long-term sustainability.

Vancouver faces challenges with limited hotel and residential spaces, driving up rental prices. Many hotels converted to social housing during the pandemic, reducing the availability of accommodations for tourists.

Vancouver, British Columbia, with 675K people, is an ideal city for young adults seeking urban living.The avg cost of living in Vancouver is $1,528/month, excluding rent.

Vancouver's condo market faces a slowdown due to high costs, rising interest rates, and reduced demand. Developers struggle with unsold inventory and cautious lenders, halting new projects in key Canadian markets.

Vancouver's housing targets progress shows challenges; the city completed only 79.6% of Year 1’s goal (4,143 of 5,202 units). Rental units fell short; out of 4,143 completed units, only 2,618 were rentals, with 88% market units, missing provincial affordability targets.

Metro Vancouver’s housing market sees rising inventory and declining prices, signaling a possible shift in dynamics. In October 2024, Metro Vancouver reported a 31.9% increase in residential property sales year-over-year.

Vancouver's housing development pipeline now includes 58K new homes in various stages of approval or construction.In the first year of provincial targets, Vancouver completed 4,143 net new homes, falling 26% short.

The Bank of Canada’s recent rate cuts boosted Real Estate markets in Metro Vancouver. October home sales in Greater Vancouver ↑ 30%, compared to 2023.