Saeed Farahani’s Blog

The Government of Canada has invested $48.5 million for the construction of 104 purpose-built rental homes for residents of Vancouver through the Rental Construction Financing Initiative. This project is fully leased and was completed in June 2021. It is LEED Gold certified and is connected to the False Creek Neighbourhood Energy Utility. The project was…

The “eleventh hour of the eleventh day of the eleventh month" of 1918 that signaled the end of World War I. On this day we honour those who have sacrificed so much to keep our flag flying high. Remembrance Day Salute to all heroes, and thank you for your service.

A report from rates.ca has found that the gap between the average home price in Vancouver and what the average earner can afford is widening. The median after-tax household income in Vancouver is $86,988, which would allow for a $347,000 house with an insured mortgage of $329,650. However, the average home price in Vancouver is…

The Canada Mortgage and Housing Corporation’s (CMHC) newly released data shows that the number of housing starts in Canada’s six largest metropolitan areas increased by only 1% over the first half of 2023 compared to the first half of 2022. Vancouver and Toronto dominated the housing starts, with 58% of the total being apartments, driven…

Vancouver's Real Estate market is no longer at risk of a bubble, according to a global report. The Indexes show Vancouver's housing market has stabilized. Vancouver's housing prices shifted from bubble risk to “overvalued” due to a ↑~35% in prices and rising household debt.

Vancouver city staff are proposing an increase in the rates for moderate income rental housing to address the city's affordable housing shortage. The proposal has been met with criticism from former city councillor Jean Swanson, who believes it is an attempt for developers to make more money. City councillors are debating alternative solutions to support…

REBGV predicts housing market stabilization in the Vancouver area. August sales totalled 2,296, ↑ >21% yearly, but ↓ 13.8% compared to the 10-yr seasonal avg. New listings in August reached 3,943, ↑ 18% yearly, but still ↓ 5.3% compared to the 10-yr seasonal avg.

The governments of Canada, British Columbia, and the City of Vancouver have announced a combined funding of more than $91 million for a major affordable housing project in Vancouver. The 17-storey building will include 154 residential units and commercial space, and will be designed to passive house standards with mass timber to reduce carbon emissions.…

The Government of Canada is investing $107.5 million in loans to Marcon Development for the construction of a 19-storey high-rise with 215 rental units in Vancouver. The high-rise will feature studio apartments, and one-, two-, and three-bedroom units, and will be located near the 41 Avenue Canada Line Skytrain station, parks, schools, and grocery stores.…

Avg home prices in Canada predicted to remain flat for the rest of 2023 due to higher interest rates and low inventory. Some regions will continue to experience rising prices, while others will see declines. ~44% of housing markets in Canada expected to be seller’s markets, with the rest being balanced or buyer’s'markets.