Saeed Farahani’s Blog

Metro Vancouver's home prices will see ↑ 3% to $1,281,732 this year. Detached properties will ↑ 2.5% to $1,778,785.

In Vancouver, the minimum family income to buy an avg home surged ~$25K in 8-mo, reaching $247K. Factors include ↑ 3.5% in home prices and Bank of Canada interest rate hikes. Buyers now face stress test rates at 8.5%, making homeownership harder for many residents.

The Vancouver City Council on Monday unanimously voted to adopt regulations for short-term rentals for a 24-month pilot period. City code didn’t previously permit short-term rentals — defined by the … Continue to full article

Metro Vancouver's average rental prices have increased for the first time in months. The cost of renting a one-bedroom apartment has risen by $26 from December 2023 to January 2024. West Vancouver is now the most expensive city to rent in Canada, surpassing Vancouver. Unfurnished one-bedroom units are $121 cheaper on average than furnished ones.…

Re/Max predicts ↑ 2% in avg residential prices and ↓ 3% in sales in Metro Vancouver for 2024. Affordability challenges persist due to high interest rates, with the BoC significantly impacting the Real Estate market.

Metro Vancouver seeks $450M from federal government for housing and infrastructure projects.The request includes equitable cost-sharing for the Iona Island Wastewater Treatment Plant, estimated at $8.6B.The MVRD urges federal support for the Climate 2050 Strategy and Clean Air Plan initiatives.

Vancouver features stunning landscapes, like Stanley Park, beaches, mountains, with a mild, yr-round climate. Vancouver flourishes as a multicultural hub, promoting inclusivity via diverse heritage festivals and events.

Rent prices in Metro Vancouver have fallen for the third consecutive month but remain the highest in Canada. The average price for a one-bedroom unfurnished apartment is $2,341, down from $2,362 last month. Vancouver has the highest rental prices in the country, with an average of $2,659 for a one-bedroom unit. All of Canada's top…

Several Metro Vancouver developers confirm stability despite concerns about financial challenges in the industry. Rapidly rising interest rates, ↑ construction costs, and governmental fees affect development activities. These factors cause a slowdown, prompting strategic investments by developers in viable projects.

Vancouver's downtown office vacancy rate has increased from 2% to 12% since the pandemic. This shift has created more opportunities for businesses in the city's core. The increase in vacancy rates has led to more lease options for tenants and a re-evaluation of how office space is used. Despite the high vacancy rates, newer and…