Saeed Farahani’s Blog

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.

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.

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.

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.

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.

The property tax increase, now 3.9% instead of 5.5%, eases financial pressure on homeowners and renters. Adjusted funding allocations prioritize maintaining housing affordability while balancing essential city services and community needs

Vancouver proposes a high-rise rezoning project near Burrard Street Bridge, promising significant urban transformation. The site spans 1.8 acres, valued at $65.6 million, currently occupied by aging low-rise buildings.

The Broadway Plan aims to add 41,500 new homes and 45K new jobs over 30 years. Updates align with new provincial Transit Oriented Areas (TOA) legislation, boosting economic growth and housing.