Zanyar Farhadi’s Blog

Ventana Construction Corporation and GBL Architects have applied for a development permit to redevelop seven houses into 125 rental homes near Sir Charles Tupper Secondary School in Vancouver. The development will include a five-storey apartment building and a three-storey townhouse building. The units will consist of studios, one-bedroom, two-bedroom, and three-bedroom units. The site will…

Vancouver housing market posts strong sales, new listings growth Continue to full article

Land availability for construction-ready vacant land is limited in Toronto and Vancouver. In Toronto, residential vacant land accounts for 14.3% of the Census Metropolitan Area land, with 33.3% of it in the city core. Vancouver has only 4.5% of the CMA as residential vacant land, dropping to just 0.3% in the city core.

In the Vancouver Real Estate market, neither buyers nor sellers currently have a clear advantage, leading to frustration among both parties.Buyers may return to the market when interest rates drop, creating a rush for more affordable financing. The reluctance to make a move has been attributed to low inventory, with sellers choosing to hold.

Condo investors in Vancouver are holding onto their properties despite high carrying costs because there are few takers if they try to sell.Potential sellers are choosing to put their properties back on the rental market instead of selling because of limited demand from buyers.However, some are considering selling even if the property's value has decreased…

Vancouver city councillor Christine Boyle plans to introduce a motion to add more housing, shops, and services in the wealthy Shaughnessy neighborhood. Despite current zoning allowing for more density, Boyle believes the current approach isn't working and wants to explore options for more rental and family-sized housing. However, some residents argue that the motion is…

Federal Housing Minister, won't withhold subsidies to municipalities, despite increased construction fees.Concerns have been raised about the substantial hike in fees for market rental housing construction projects. Metro Vancouver faces funding challenges to support growth-related infrastructure, such as sewer and water treatment facilities.

The report highlights the growing disparity between Vancouver's Real Estate prices and avg income.In Vancouver, the median after-tax household income is $86,988. The report reveals that with this income, a median-earning family can afford only a $347K house.

Vancouver and the province of British Columbia are considering converting empty office towers into housing to address the housing crisis. The Minister of Housing is open to the idea but unsure of the demand. Vancouver currently has an 8.6% vacancy rate for office spaces, while Victoria has a 6.5% vacancy rate. Rezoning may be required…

Sales of luxury homes in Vancouver are ↓ steadily. There have been 8 sales of properties priced above $6M in September. Rising interest rates are having an impact on the luxury Real Estate market.