Zanyar Farhadi’s Blog

The UBS Global Real Estate Bubble Index report has revealed that real estate in Canadian metros Vancouver and Toronto have moved out of the bubble risk category and into the "overvalued" category due to increasing financing costs and higher mortgage stress test rates leading to prices dropping by more than 10% in inflation-adjusted terms since…

The UBS Global Real Estate Bubble Index 2023 has revealed the global housing market has suffered due to rising inflation and interest rates over the past two years. Average mortgage rates have tripled since 2023 and house price growth has stagnated, with prices being 5% lower than mid-2022 in inflation-adjusted terms. Toronto and Vancouver have…

Avg home prices in Canada predicted to remain flat for the rest of 2023 due to higher interest rates and low inventory. Some regions will continue to experience rising prices, while others will see declines. ~44% of housing markets in Canada expected to be seller’s markets, with the rest being balanced or buyer’s'markets.

REBGV predicts housing market stabilization in the Vancouver area. August sales totalled 2,296, ↑ >21% yearly, but ↓ 13.8% compared to the 10-yr seasonal avg. New listings in August reached 3,943, ↑ 18% yearly, but still ↓ 5.3% compared to the 10-yr seasonal avg.

Ratehub.ca has calculated the minimum annual income required to buy an avg home in Canada’s major cities. Minimum income to buy an avg $1.2M home in Vancouver rose to $246,100 due to rising mortgage rates.Reports reveals affordability worsened despite a slight $2,300 decrease in avg home prices.

The perfect opportunity to embrace your inner "foodie" and unbutton your pants at the dinner table!In Canada, post-Thanksgiving is all about creative cranberry sauce solutions. Cranberry sauce pancakes, anyone?It's that time when multiple ovens are a blessing. Turkey, pies, casseroles – less stress!

Seasonally adjusted home sales in Vancouver ↓ 10.5% MoM in August. Sales are expected to decelerate further in the months ahead due to rising rates and affordability concerns. New listings ↓ 1.6% in August, the first contraction in 5-mo.

Vancouver city staff are proposing fee increases for a variety of services., including STRs. It’s an effort to offset a proposed property tax increase of over 9% for 2024. The proposed fee increases would also bring Vancouver's fees more in line with other BC municipalities.

The Vancouver City Council passed a motion to allow for multiplex and character homes to be built on single lots with a maximum of 8 homes. This includes a reduction in the size of single-detached homes but increases the size of laneway houses. The nine RS residential zones have been combined into a new R1-1…

The Canadian government is supporting the construction of 422 purpose-built rental homes in 3 projects in Vancouver. The funding is provided through the Rental Housing Finance Initiative (RCFi), providing fully repayable low-interest loans.