Category: Uncategorized

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…

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 Moderate Income Rental Housing Pilot Program (MIRHPP) was created in 2017 to provide affordable rental housing to households with annual incomes between $30,000 and $80,000. 16 projects with a combined total of 2,975 rental homes, including Molnar Group's Renfrew Apartments, have been approved under the MIRHPP stream. However, due to rent limits that do…

The September 28 Colliers report found that the office vacancy rate in Metro Vancouver had climbed to 11.9% in the 3rd quarter of 2023, the highest rate in nearly 20 years. Despite these obstacles, asking rents remain high due to redevelopment and concessions beyond rent. The health-care sector was the leader for office demand in…

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 hall has proposed policy amendments to incentivize developers to build more rental homes, both market-rate and below-market. Despite the 2017 pilot program for below-market rentals being initially successful, construction of the 70 approved projects have not yet taken place due to increasing construction costs and interest rates. The proposed policy changes include increasing…

Housing starts in Metro Vancouver increased by 50% in the first seven months of 2023 compared to the same period in 2022.

The Vancouver City Council voted to approve a "missing middle" motion which will allow multiple housing units on the majority of single-detached lots in the city. The motion, which will be accepted in December, will simplify residential zoning by consolidating nine different residential zoning types into a single zoning type. It will also allow up…

Despite ↓ yearly, Toronto and Vancouver detached home prices remain elevated.

Vancouver's housing market is known for high prices and low affordability, exacerbated by wealthy foreign buyers and speculative investments. .