Saeed Farahani’s Blog
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Vancouver Developers Focus on Hotels
Office Construction Decline: New office builds are at a historic low, with minimal space under construction. Shift to Hotels: Developers redirect efforts toward hotel projects, especially in mixed-use developments.
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Vancouver to vote on single-stairwell buildings
Vancouver city council is considering changes to building bylaws that would permit only one stairwell in residential buildings up to six storeys, aiming to increase living space. This aligns with recent provincial legislative updates. While proponents argue it enhances design and functionality, fire chiefs express concerns about safety, stating that a single exit could hinder…
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Metro Vancouver: Declining Sales and Rising Listings in Late-Q3
Home sales in September: – Fraser Valley: ↓ 10% yearly to 982 sales – Greater Vancouver: ↓ 4.1% yearly to 1,834 sales Inventory levels have increased: – Fraser Valley: ↑ 17% yearly to 3,352 – Greater Vancouver: ↑ 12.8% yearly to 6,144
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Vancouver’s High Costs Stall High-Rise Projects
Vancouver saw a drop in housing starts due to slow sales, high financing costs, and reduced profitability. Average construction times in Metro Vancouver reached a record high of 20.4 months due to rising costs and delays.
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Bills 44, 46, 47 & 18: Housing Affordability Needs in Vancouver
Bills 44, 46, 47 & 18 shift zoning authority from municipalities to the Province, failing to address affordability.Vancouver's updated housing targets favour market housing (82%) over affordable housing (19%), worsening the crisis.
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Vancouver to speed up permits for multiplex units
Effective early 2025, Vancouver will reduce permitting times for specific multiplex applications by about 50% through a streamlined Development Building Permit pathway. This initiative is part of the city's Permitting Improvement Program, aimed at faster housing approvals. The new process combines development and building permits into one application, reducing redundancies and review times. Initially, it…
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Home Inspection Checklist Every Buyer Needs!
Roof Inspection – Look for signs of damage or aging – Conduct up-close assessments, not just visual checks – Ensure no unforeseen expenses post-purchase – Verify roof and structural warranties Foundation and Structure – Look for cracks, settling, or moisture infiltration – Assess structural integrity – Identify deferred maintenance issues early
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Here’s how much costs to live in Vancouver and how it compares to other Canadian cities
Vancouver is the most expensive city in Canada, with a cost of living averaging $3,793.63 per month. The average price for a one-bedroom apartment is $2,675, and homes average $1,197,700. Despite its high costs, Vancouver boasts a diverse and rapidly growing economy, supported by sectors like technology and film. Toronto follows with a monthly cost…
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City of Vancouver begins planning process for 17 new Village areas
Vancouver City Council has approved a plan to create 17 new "Villages" in low-density residential areas to boost housing supply with low-rise multi-family developments. Located within 400 metres of minor retail streets, these areas will feature buildings of three to six storeys, townhouses, and multiplexes. The planning will take 18 months, with a total of…
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Vancouver 2,600 Homes to Sell at 60% Market Value
A new Indigenous-led condominium project in Vancouver will prioritize first-time homebuyers. Up to 2,600 housing units will be sold at 60% of market value under 99-year leasehold agreements.
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