Category: Uncategorized
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Greater Vancouver Real Estate Market Sees Both Buyers And Sellers Hesitating
Home sales in Greater Vancouver remained sluggish in August, with 1,904 transactions, down 17.1% from the previous year and 26% below the 10-year average. Despite two recent interest rate cuts by the Bank of Canada, buyers are still affected by high borrowing costs. New listings increased by 4.2% year-over-year, while active listings rose 37%. The…
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Vancouver Rentals Still Most Expensive in Canada
Vancouver and Burnaby remain the priciest rental markets in Canada despite year-over-year declines.Vancouver's one-bedroom rentals dropped 7.7%, and two-bedrooms fell 5.6% year-over-year.
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Interest Rate Cut Won’t Cool Vancouver Housing Market
Bank of Canada’s rate cuts may lower mortgage rates but won't significantly impact home prices. Decreasing rates are likely to result in lower fixed-rate mortgages, making now a good time to shop.
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Vancouver: What’s Driving the Prices Up?
Land Speculation: Global investors and speculators drive up land prices, making housing less affordable. Limited Supply: Restricted land availability and zoning regulations constrain housing supply, pushing prices higher.
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Check out my new listing Address: 32834 2ND AVENUE
Explore the potential of this multifamily zoned lot, ready for development. Combine with 32822 2nd Ave to create up to 12 townhouses. Current Home Features: Charming Log Home Rancher with a cozy sunroom. Secluded end-of-street location for privacy. Spacious front porch and long driveway. 2-bedroom (formerly 3), 1-bathroom layout. Modern kitchen and bathroom updates. Inviting…
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Check out my new listing Address: 32822 2 AVENUE
Prime Development Opportunity in Downtown Mission! Unlock the potential of this multifamily zoned lot, perfect for development. Combine with 32834 2nd Ave to create up to 12 townhouses. The lot is already subdivided with 2 PID numbers. The existing home features 2 bedrooms, 2 bathrooms, and a finished walk-out basement. Enjoy updates that preserve its…
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Metro Vancouver office vacancy rates increase amid development slowdown
Office vacancy rates in Metro Vancouver rose to 10.4% in Q2 2024, up 0.3% from the previous quarter, according to a report. Downtown rates increased from 12.5% to 12.8%, driven by new supply from a large office tower. The availability of large downtown spaces grew from 7.8 million to 8.2 million square feet, with average…
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Metro Vancouver and Fraser Valley homebuyers still hesitant despite Bank of Canada rate cuts
Homebuyers in Metro Vancouver and Fraser Valley remain hesitant despite recent Bank of Canada rate cuts. July 2024 saw home sales drop 5% in Metro Vancouver and 7% in Fraser Valley compared to previous months, with both regions experiencing significant increases in available listings. Benchmark home prices have slightly decreased, with the overall price in…
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Vancouver’s Iconic Views: Protected or Sacrificed?
Vancouver’s revised view-protection rules now include fewer protected views, impacting city skyline and development. These changes could result in 20 million square meters of additional development over the next century.
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Why Is Vancouver Property Investor’s Safe Bet?
Private investors continue to see Vancouver as a low-risk, high-reward property market opportunity. Vancouver's capitalization rates are among the lowest in Canada, indicating strong potential returns on investment.