Zanyar Farhadi’s Blog
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Dismal Attitudes Toward Metro Vancouver Homeownership
Housing costs in Metro Vancouver are a significant burden, leading to dismal attitudes among both homeowners and renters.A survey reveals that 53% of people in Metro Vancouver spend more than half of their household income on housing costs. Concerns about missing mortgage or rent payments within the next 12-mo are high, with 48% expressing worries.
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Post-pandemic: The current state of Vancouver’s office market
Vancouver's office market is being closely watched, particularly in the downtown area. The region has a significant amount of office space, with most of it located in Vancouver's Central Business District. The city has low office vacancy rates, but there is some concern about the impact of COVID-19 on the market. The debate between working…
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Vancouver Island Real Estate Sees Sluggish Sales in Early Q4
Vancouver Island Real Estate Board (VIREB) reported a slower-than-expected housing market in October. The trend of sluggishness is attributed to high interest rates and an eight percent mortgage stress test, impacting demand. The British Columbia Real Estate Association anticipates VIREB closing the year with 7.1K home sales, the lowest since 2013.
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60-40: Vancouver City Council to debate Downtown Eastside’s ratio of social and market housing
Vancouver City Council is considering reevaluating the "60-40" housing ratio in the Downtown Eastside Area Plan due to a lack of affordable housing supply. Only two projects have been built in the area over the past decade, and Councillor Rebecca Bligh believes that rising construction costs and interest rates may make the current ratio unworkable.…
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Vancouver housing: Monthly rental costs in December 2023
Vancouver housing: Monthly rental costs in December 2023 Continue to full article
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Happy New Year!
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Rent Prices Fall Again In Toronto, Remain Flat In Vancouver
The average rent for residential properties in Canada dropped slightly in November, marking a 0.2% decrease from the previous month's record high. Vancouver had the highest average rent for a one-bedroom unit, followed by Burnaby. In the Greater Toronto Area, Toronto had the third highest average rent for a one-bedroom unit. Rents have increased annually…
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Vancouver: Rent Affordability in Canada
A recent report has identified the cheapest Canadian cities for renters. The report was considering factors like: Rent WiFi speeds Cafés Access to national parks Avg temperatures
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City of Vancouver’s New Tool to Build Laneway Homes
The City of Vancouver introduced the Project Requirements Exploration Tool to expedite permitting times for laneway houses.The tool is part of the city's broader plan to accelerate permit approvals for housing projects and increase housing supply. Laneway houses are detached homes facing alleys, aiming to add rental units in low-density neighborhoods, with ~5K existing in…
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Did You Know This Vancouver Homeownership Method?
Co-ownership, a novel approach, transforms homeownership challenges with collaborative property investment.Splitting the cost of a detached home among 2 groups makes homeownership feasible for more people. CoHo BC organizes property tours, allowing potential co-owners to assess homes and compatibility with each other.
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