Saeed Farahani’s Blog
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FEDERAL GOVERNMENT SUPPORTING THE CONSTRUCTION OF 404 NEW APARTMENTS ACROSS VANCOUVER
The federal government announced $204.8 million for 404 rental homes in Vancouver through the Apartment Construction Loan Program. This initiative aims to build over 131,000 new apartments across Canada. The program provides low-interest loans to encourage the construction of rental homes for middle-class Canadians. Budget 2024 allocated an additional $15 billion for building new rental…
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Spring Brings a Surge in Vancouver’s Seller Activity
Increased Listings: – Metro Vancouver’s homes listed for sale ↑ 23% yearly Sales Dip: – Residential sales in Early-Spring 2024 ↓ 4.7% yearly.
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Affordable Rentals Planned in Vancouver
Vancouver agrees to build 670 affordable rental homes in False Creek North. Housing types include studios, one, two, and three-bedroom units.
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Vancouver Rents Remain Among Canada’s Priciest
A new report reveals Vancouver boasts some of the highest rents in Canada despite a slight yearly decrease in one-bedroom prices.Average price for a one-bedroom, unfurnished apartment in Vancouver is $2,663, representing a 4% decrease yearly.
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City of Vancouver sees slow start in meeting provincial housing targets
City of Vancouver is falling short of the provincial government's housing supply targets, with only 1,607 units completed in the first six months, below the target of 5,202. The completion rate is expected to increase due to recent policy changes. The city has over 31,000 units in various stages of application, exceeding the five-year target…
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Bank of Canada cuts key rate for first time in more than 4 years
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Vancouver Apartment Rents See First Dip in Years
Vancouver has the most expensive rent for 1-bedroom units in Canada, despite a slight decrease this year.The avg rent for a 1-bedroom unit in Vancouver is $2,633, ↓ 4% yearly from $2,743.
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BC Housing Targets: North Vancouver on the Nice List
North Vancouver City was included in a list of 20 municipalities designated for provincial housing targets. Historically, this list has targeted slow-approvers of new housing density.
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New Home Buyer? Expert Tips!
Schedule walk-throughs at key construction phases to ensure correct installation. Avoid escalation clauses to lock in agreed-upon home prices.
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Report shows City of Vancouver’s struggle to meet annual housing goals
Vancouver is falling short of its goal to create 2,500 housing units per year, with only 1,500 units built in 2023. The city aims to construct 2,500 units annually for the next decade, with 1,000 of them being affordable housing. Rising housing costs have contributed to a growing homeless population in the city. Continue to…
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