Saeed Farahani’s Blog
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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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Building Permits Surge Amid Vancouver Buyers’ Market
B.C. building permits more than doubled, reaching $2.4 billion. Multi-family permits saw a 152% increase, while non-residential permits rose by 99%, especially in industrial and institutional sectors.
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Federal Land in Metro Vancouver to Become Housing
Federal sites in Vancouver and Port Moody are identified for redevelopment into affordable housing. Both properties are near major transit lines, enhancing accessibility.
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Vancouver’s New Normal: Setting the Baseline for Land Prices
Vancouver's New Normal: Setting the Baseline for Land PricesCourt-ordered sales are offering land at discounts, reshaping Vancouver’s land price landscape.
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Vancouver Rent Prices Slowly Declining
One-Bedroom Rents Drop: Vancouver's average one-bedroom rent is now $2,690, down 4.6% from last year.Two-Bedroom Decline: Average two-bedroom rents in Vancouver decreased by 2.6%, now $3,800 per month.
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Dramatic Turnaround Predicted for Metro Vancouver Housing Market
Millennial Demand Rising: Nearly 75% of millennials and Gen Z prioritize homeownership, driving future market growth.Surge in Sales Expected: Increased buyer activity is anticipated to reduce excess inventory, especially in multi-family markets.
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