Saeed Farahani’s Blog

Canada's Federal Housing Minister Sean Fraser announced Wednesday that the federal government will provide nearly $500 million in low-cost loans to developers to build up to 1,100 rental units across nine sites in Vancouver. Fraser only shared the location of one of the sites, a six-storey building under construction on the University of B.C. campus,…

Metro Vancouver home sales ↑ 190.1% in H1 2023, with 2.9K homes sold in June, driven by heightened demand. The Fraser Valley area experienced the largest increase in Canada, ↑ 214.5% in home sales in June.

The federal government has announced a combined total of $500 million to help deliver 1,100 new purpose-built rental homes within Vancouver. This follows CMHC’s announcement in early August about providing $208 million in low-cost construction financing for three projects generating a total of 422 new rental homes. Eligible projects must also have an affordable housing…

Commuting preferences influence housing choices and pricing trends in Metro Vancouver. Factors like traffic volume and commute time affect the "psychological return on investment" for homebuyers. COVID-19 led to a shift to suburban and rural areas, causing rising home prices in cities like Langley and Abbotsford.

Joe Pobia has been living in a bachelor suite in a Commercial Drive apartment for 10 years, but after receiving an eviction notice in April, he is now looking for a home in Vancouver, the most expensive place to rent in Canada. The average rent for a one-bedroom apartment in the city is $3,000 a…

Happy Labour Day! Labour Day is a chance to honor and appreciate the hard work and contributions of workers in various industries. It's a chance to look back at workers' rights achievements and labor rights progress over time. Sending warm wishes on Labour Day to honor the dedication and contributions of workers everywhere. May your…

Rental prices in Metro Vancouver have ↑ $352 yearly, for the 4th consecutive month. Rental prices in Metro Vancouver have ↑ $352 yearly, for the 4th consecutive month. Increased demand for rental housing may drive prices up further during the summer.m.

Vancouver's budget outlook for 2024–2028 calls for an avg annual property tax increase of 9%. The increase aims to balance the budget, but could burden homeowners with an additional $116/yr for a median strata property. The need for increased property taxes is driven by: Higher fixed costs Previous initiatives Rising operational expenses

In July, the average home price in Vancouver rose 0.6% compared to June and sales surged by 28.9% to 2,455, according to the Real Estate Board of Greater Vancouver. New supply also increased with 4,649 new listings last month. The increase in sales was a result of many would-be buyers returning to the market after…

The Government of Canada has taken steps to address the decline in rental stock in the country by introducing the Rental Construction Financing Initiative (RCFi) which provided over $208 million in low-interest loans for the construction of 422 purpose-built rental homes in three projects in Vancouver. These homes will be close to amenities and public…