Zanyar Farhadi’s Blog

Vancouver staff recommend raising rents in the affordable housing pilot program. The amendment suggests raising rents to 20% below the avg rent set by the Canada Mortgage Housing Corporation. The program, launched in 2017, incentivizes developers to build affordable housing in exchange for density bonuses and fee waivers.

According to a report from Rates.ca, the median household income in Vancouver is $86,000 a year, which would qualify them for an uninsured mortgage of just over $400,000. However, the median home price in Vancouver is $1.2 million, or 195% more than they can afford. B.C.'s Housing Minister Ravi Kahlon has said he hopes Metro…

Rent prices in Metro Vancouver have decreased for the second consecutive month, but they are still high. The average price for a one-bedroom, unfurnished rental unit in November was $2,362. Prices have not significantly increased compared to last year. West Vancouver has the highest rental prices, followed by the City of Vancouver and North Vancouver.…

Canada, British Columbia, and the City of Vancouver jointly allocated ~$91M for a new affordable housing project in Vancouver.The project will feature a 17-story building with 154 residential units and commercial space. The building design prioritizes energy efficiency, meeting passive house standards, and employs mass timber construction to reduce carbon emissions.

BC Government has ordered the City of Vancouver to add 28.9K new homes over the next 5-yr to address housing affordability.The target includes 8K ownership homes and 20.8K secured purpose-built rental homes, among other units. Specific unit size mix requirements are set, including studio, 1-bedroom, 2-bedroom, and 3 or more bedroom units.

Mid-month data from REBGV suggests a potential shift in the housing market in favor of buyers. There have been 2.9K new listings in mid-September, which is higher MoM. Housing sales ↓ MoM to 896 as of September 15, but slightly ↑ yearly.

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 City of Vancouver has released a new tool, the Project Requirements Exploration Tool (PRET), to quicken permitting times for laneway houses in an effort to address housing supply gaps. This tool is designed to help single-family residential lot owners apply for permits to build secondary rental suites and is part of the three-year Housing…

Vancouver Mayor Ken Sim has announced a multi-faceted strategy to address the city's housing affordability and supply crisis. The strategy includes implementing 26 new Village Areas, exploring steps to harmonize and align the Vancouver Building Code with the BC Building Code, reviewing building height restrictions, and increasing the maximum floor. Sim hopes this strategy will…

This is a fantastic opportunity to own a bright and spacious 2-bedroom, 2-bathroom home at "Sahalee" in Klahanie, built by Polygon. With 813 square ft of living space and an additional 40 square ft covered balcony, this home faces northeast, providing plenty of natural light. Residents have exclusive access to the 15,000 square ft "Canoe"…