Saeed Farahani’s Blog
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Happy Father’s Day
Approximately 2.5 billion Father's Day cards are sent each year. Neckties have become a popular traditional gift for Father's Day. "World's Greatest Dad" is a popular Father's Day phrase. Breakfast in bed is a common Father's Day treat. Wishing a fantastic Father's Day to all the dads who strive to be the best versions of…
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Vancouver won’t hit low-rent housing targets without help: Report
Vancouver has only built 11 of the 1,500 below-market units requested by the province due to lack of funding. Additional investments are needed from the provincial and federal governments to meet housing targets. The city's grant programs and B.C. Housing funds are insufficient. Other municipalities are also falling short on housing targets set by the…
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Mixed-use developments diversify as demands increase
Developers are focusing on creating mixed-use buildings to accommodate a variety of office users in urban environments. New industrial zoning in Vancouver allows for a mix of office and industrial spaces, promoting vibrant urban communities. Projects like Marine Landing and Capital Iron lands are examples of this trend, combining industrial, office, and residential spaces to…
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Vancouver Homebuyers: $2K Income Boost Is Needed!
The annual income required to secure and carry a mortgage in Vancouver has climbed another $2,270 MoM. Required income: – Mid-Q1: $230,350 – Late-Q1: $232,620
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Affordable rental development underway in Vancouver’s Little Mountain neighbourhood
An affordable rental housing development in Vancouver's Little Mountain neighborhood is finally underway after 15 years. The 48-unit building will offer various housing options, a childcare facility, and a community plaza. The project aims to create an inclusive neighborhood with housing for all income levels. Continue to full article
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More Listings, Still a Seller’s Market in Metro Vancouver
Sales Increase: – Home sales in Metro Vancouver were 2,415 in Late-Q1 2024, ↑ 17% MoM and ↑ ~5% yearly. Below Avg: – Despite increases, sales are still ↓ 31% below the 10-yr seasonal avg.
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Metro Vancouver Breaks Records With Construction Boom
Metro Vancouver saw a record 33,000 homes built, up 28% from 2022, challenging housing shortage beliefs.Not all areas in Metro Vancouver saw equal construction; some municipalities had below-average starts.
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Vancouver’s Luxury Home Sales Cool, Condos Sizzle
Sales for multi-million dollar detached homes in Metro Vancouver have dropped by 50% in 2024. A report highlights a shift towards condo sales in Metro Vancouver.
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Rent Increases in Metro Vancouver Begin to Ease
With slowing population growth and rising rental completions, rent growth should moderate in Metro Vancouver. In Late–Q1, avg Canadian property rents ↑ 8.8%, showing slight moderation from Mid-Q1 ↑ 10.5%. Vancouver
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How Much Can Landlords Increase Rent in Metro Vancouver?
Frequency of Increase: Once every 12 months, not in the first year of tenancy. Notice Requirement: Three months' notice on approved form required before increase.
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