Saeed Farahani’s Blog
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Vancouver Buyers Rebound: Sales Jump 32%
Home sales in Greater Vancouver rose 31.9% in October compared to last year, suggesting a rebound. In October, Greater Vancouver recorded 2,632 sales, only 5.5% below the 10-year average for the month.
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Jenga-like project with affordable homes nears completion in Vancouver
Two buildings in the River District are nearing completion, featuring a 26-storey tower and a six-storey mid-rise, totaling 337 homes. The project includes 220 units for the Indigenous community and 117 co-op units, with rents ranging from $445 to $2,660. Move-ins are scheduled for January 2025, delayed from the initial fall 2024 target. Funded by…
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Metro Vancouver Buyers to Benefit From Rate Reduction
The BoC has cut its key interest rate significantly to stimulate the economy. This reduction marks the fourth consecutive cut, aligning with falling inflation rates of 1.6%.
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How Much It Costs to Live in Vancouver
Vancouver is ranked the priciest city in Canada, with high housing and living costs. A one-bedroom apartment averages $2,675, and a home costs around $1.2 million in Vancouver.
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Vancouver sees uptick in commercial rents
Commercial rents in Vancouver rose by 2.4% in Q3 2024 compared to the same period last year, with significant increases across all segments: office buildings (0.4%), retail (2.1%), and industrial (3.9%). In contrast, B.C. saw a 1.7% increase, while the national average was up 2%. The data indicates a steadying demand in the commercial real…
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Selling in 2025? 6 Must-Haves for Your Home
Updating your kitchen with quartz countertops and smart appliances significantly enhances resale value. Adopting a neutral color palette makes your home more appealing to potential buyers and feels modern.
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Vancouver Plans 17 New Multi-Family Villages
Vancouver will transform 17 low-density residential areas into Villages, featuring low-rise multi-family housing for increased supply. Each Village, within 400 meters of retail streets, will permit buildings of 3 to 6 storeys.
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New Fees Delay Housing Projects in Metro Vancouver
Over 73K homes remain unbuilt in Metro Vancouver due to rising development cost charges (DCCs). New charges introduced by recent legislation add 5-10% to total DCCs in some municipalities.
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Vancouver on track to meet provincial housing targets
The City of Vancouver's first Annual Progress Report shows that the development pipeline is on track to meet provincial housing targets. From October 2023 to September 2024, 4,143 new housing units were completed, achieving 80% of the year-one target. With 58,100 units in development, projections exceed the five-year target of 28,900 units. Vancouver leads in…
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Interest Rate Cuts Could Revive Vancouver Market
Vancouver’s housing market sales ↓ 5.7% yearly, totalling 2,783 units in September. Despite improved affordability, buyers remain cautious, awaiting further interest rate reductions and increased inventory.
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