Saeed Farahani’s Blog
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Where to Look for Homes Under $1M in Vancouver?
Downtown Vancouver offers a benchmark price of $721K, with a minimal 1% price growth over 5-yr. Collingwood and Mount Pleasant both have benchmark prices under $900K, each ↑ 15% over the last 5-yr.
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Rent or Own? The Path to Owning Your Home
Weigh Flexibility vs. Investment: Renting offers flexibility, while buying builds equity and offers tax benefits. Consider Long-Term Stability: Buying is better if you plan to stay in one place for many years.
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Federal government supports 146 affordable homes in Vancouver
The Hastings-Sunrise neighbourhood in Vancouver will soon see the construction of 146 new affordable homes for seniors, families, and people with disabilities through the Sunrise Village project. This initiative is a collaboration among various government levels and Brightside Community Housing, with funding totaling over $56 million. The project will replace an aging building and is…
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Greater Vancouver Condos: Prices Flat, Sales Slump
Home sales in Metro Vancouver were significantly lower both MoM and yearly in June 2024. The number of condos sold in June 2024 ↓ 20.9% yearly, reaching 1,245 units.
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Detached Home Sales in Greater Vancouver Dip as Market Cools
Home sales in Metro Vancouver were significantly lower both MoM and yearly in June 2024. This decrease is attributed to hesitant buyers despite the recent interest rate cut by the BoC.
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Why Vancouver Housing Favours Buyers in Late-Q2
In June 2024, there were 2,395 home sales in Greater Vancouver, a decrease from previous years and months. New listings increased to 5,723, contributing to a total of 13,605 active listings.
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Province issues West Vancouver 30-day notice to conform with housing rules
Continue to full article
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Vancouver: New TOA Rezoning Policy Requirements
Vancouver's new TOA Rezoning Policy will guide rezoning applications and clarify City expectations. The policy proposes increasing minimum density near SkyTrain stations to 5.50 FSR for better development.
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Pod Power: Can Tiny Rooms Solve Vancouver’s Big Problem?
Creative Solution: Vancouver City Council is facilitating conversions of vacant office space into pod hotels. Demand for Hotels: Vancouver faces a shortage of 10K hotel rooms, driving up accommodation prices.
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New interest rate will not impact Vancouver housing market
Bank of Canada's interest rate cuts may not significantly impact the housing market. Lower interest rates could lead to better mortgage rates, but home prices are unlikely to decrease much due to high demand. First-time buyers still need a substantial down payment. Home prices are expected to remain stable in 2024 but could rise in…
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