Zanyar Farhadi’s Blog
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Metro Vancouver: No Parking, Lower Costs?
Metro Vancouver aims to eliminate minimum parking requirements in new developments to reduce construction costs.Building a parking stall in Metro Vancouver can cost up to $230K due to site challenges.
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Vancouver unveils new plan for market rental housing on municipal land
The City of Vancouver is advancing a new strategy for market rental housing through the Rental Housing on City-owned Land – Public Benefits Pilot Rezoning Policy, proposing developments at Pacific and Hornby streets. The Vancouver Housing Development Office (VHDO) aims to deliver market rental housing while generating non-tax revenue. The initiative includes plans for 54-…
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Vancouver Empty Homes Tax Reminder
The declaration deadline for Vancouver’s Empty Homes Tax is February 4, 2025. If the declaration is not filed by the deadline, the property will be deemed vacant and subject to a 3% vacancy tax.
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Vancouver’s Real Estate Market Surges: What’s Fuelling the Frenzy?
Home sales in Vancouver rose by 8.8% in January, totaling 1,552 transactions, while new listings surged by 46.9% to 5,566 homes. Current inventory is at 11,494, a 33.1% year-over-year increase. The composite benchmark price is $1,173,000, indicating moderate growth. The market is shifting towards sellers, with strong buyer interest despite potential challenges from U.S. tariffs…
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2025 Brings Optimism to Vancouver’s Luxury Housing
Vancouver’s luxury housing market enters 2025 with cautious optimism amid lingering buyers’ market conditions.Softening prices, oversupply, and falling interest rates create favourable investment opportunities in luxury condos.
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City of Vancouver would act as landlord in bold new market rental plan
The City of Vancouver has announced a new market rental plan targeting middle-income earners, led by the Vancouver Housing Development Office. This pilot initiative will utilize City-owned property, starting with a site at Pacific and Hornby, to create up to 1,136 market rental homes. To qualify, households must earn between $90,000 and $194,000. The City…
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Vancouver’s Housing Market: Million-Dollar Forecast
Vancouver's housing market is resilient, with the average B.C. home price forecast to surpass $1 million in 2025.Vancouver's housing demand remains high, with buyers relying more on wealth than mortgages, maintaining market activity amid high prices.
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Vancouver Leads in Rent, Despite Recent Declines
Vancouver remains Canada's most expensive city, despite rent declines in December 2024. Average rent for a one-bedroom in Vancouver was $2,512, ↓ 7% yearly.
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Vancouver sees boost in housing supply as sellers re-enter market
Vancouver's real estate market is experiencing a shift with increased seller activity and rising home sales. In January, 1,552 homes were sold, an 8.8% increase from last year, though still 11.3% below the 10-year average. New listings surged 46.9% to 5,566 properties. The total homes listed reached 11,494, up 33.1% year-over-year. The composite benchmark price…
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What Signals Rising Housing Affordability in Vancouver?
Housing affordability in Vancouver shows slight improvement, yet extreme affordability challenges persist. RBC forecasts a 2% policy rate by mid-2025, potentially reducing ownership costs further.
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