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Asking rents for apartments in Vancouver ↓ 0.7% yearly to $3,059. 1-bed apartment rent: ↓ 5.8% MoM but ↑ 4% yearly to $2,700

恭喜發財. Wishing you prosperity. Lunar New Year, is the most important celebration observed in China, with cultural and historic significance.The New Year celebration is centered around removing the bad and the old, and welcoming the new and the good. Traditional activities include reunion dinner, cleaning houses, visiting family members, setting off firecrackers and fireworks, and…

Office and industrial markets in Vancouver adjusting due to rising interest rates and economic slowdown, with potential relief in H2 2024.Retail sector labeled most stable, outperforming expectations, thanks to low supply and strong demand.

The avg rent for an unfurnished one-bedroom apartment in January is $2,441, ↓ MoM, while furnished stands at $3,085.Avg rent prices for two-bedroom apartment in Vancouver in January: Unfurnished: $3,610, ↓ MoM Furnished: $4,383, ↑ MoM

Vancouver ended 2023 with a 5% increase in average home prices, reaching $1.17 million. Despite high borrowing costs, December home sales rose compared to the previous year. However, sales remained below the 10-year seasonal average. The Real Estate Board of Greater Vancouver reported 1,345 homes changing hands in December, a 3.2% increase from the same…

Metro Vancouver to see continued decline in sales through late 2023 and early 2024 due to higher borrowing costs. Over 20K potential buyers sidelined by interest rate hikes could return to the market in 2024 as rates fall.

Experts expect increased new supply in Vancouver's Real Estate market for 2024, though it may not directly lower home prices.New residential housing construction ↑ 37% in 2023, potentially ↑ supply in the Real Estate market.

Real estate expert predicts a continued demand for diverse housing options in established neighborhoods and a greater focus on affordability in Vancouver's 2024 housing market. The use of "mass timber" and offsite manufactured housing is expected to rise. Minimum parking regulations may be scrapped, but off-street parking will remain necessary. Home-sharing could help address the…

The median rent for a 1-bed in Vancouver was $2,730 in December. It was ↓ 1.8% MoM, but ↑ 10.5% yearly.

The City of Vancouver has been approved for $115M from the Housing Accelerator Fund to fast-track the construction of over 3,200 new housing units. The funding will also support the construction of 40,000 homes over the next 10 years. The government aims to promote high-density development, streamline re-zoning laws, and expand affordable rental programs. The…