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Canada’s housing shortage: Goods news to investor, skeptical for residents
The Vancouver Sun · 15 Aug 2020 · Dan Fumano
Vancouver's rental housing landscape has been shifting recently away from local mom-and-pop landlords to large, mostly Toronto-based financial companies — including multi-billion-dollar pension funds, asset management firms and REITs. Experts expect that…
Old St.Paul’s Hospital to modern facilities soon to rise by 2026
The Province · 12 Aug 2020 · Scott Brown
The St. Paul's Hospital site on Burrard Street in Downtown Vancouver has been sold for nearly $1 billion to developer Concord Pacific. Providence Health Care, which operates the hospital, says the money will be put toward the construction of the new St. Paul's…
Council pushing more rental housing-Vancouver
The Province · 11 Aug 2020 · Dan Fumano
As Stewart pointed out, in the commercial zones council was looking at, developers can currently build four-storey condo projects without seeking a rezoning. Stewart wants to push developers toward building more rentals, saying: "I cannot vote for more condos.…
Mixed outlook on real estate and the Pandemic
The Vancouver Sun · 08 Aug 2020 · Douglas Todd
You can be forgiven for feeling perplexed about what's happening to Metro Vancouver's real estate market after almost six months of COVID-19 anxiety and varying degrees of lockdown. The spin coming from the real estate industry is bewildering — with some…
Access to transit is more valuable, home buyers are willing to pay extra.
other · 04 Aug 2020 · Kenneth Chan
New data shows home buyers in Metro Vancouver are still willing to pay for the premium of being within close walking distance from a SkyTrain station. While there is currently an aversion to public transit, the health crisis has only had a minimal effect on bu…
BC Housing Markets Bounce Back in June
BCREA · 14 Jul 2020
The British Columbia Real Estate Association (BCREA) reports that a total of 8,166 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in June 2020
How long this Pandemic affects the rental market
Western Investor · 13 Jul 2020 · Glen Korstrom
Asking prices for Metro Vancouver rental units have already declined, as competition for tenants has increased and prospective renters, who have been hit with less stable employment, seek lower priced homes.
New condo sales, starts plummet in Metro Vancouver
Western Investor · 01 Jul 2020 · Frank O'Brien
According to the latest results from Altus Group's Condominium Apartment Monitor, between the beginning of April and the middle of May, only two new condominium apartment projects launched in Metro Vancouver, with a total of just over 200 new units, down by al…
Brokers: Vancouver market still a long way from full recovery
Mortgage Broker News · 30 Jun 2020 · Ephraim Vecina
Last month, markets observer Douglas Todd said that plummeting immigration numbers during the coronavirus crisis would have a significant impact on the Vancouver housing market. "Start with the drastic drop in tourist numbers. With borders virtually closed to …
Metro Vancouver condominium rental market ride out during pandemic
The Vancouver Sun · 23 Jun 2020 · Frank O'Brien
"The condo rental market has definitely come off. It is down 10 per cent to 20 per cent [in rents], and we are seeing higher vacancies," Leung said. About 5 per cent of Birds Nest properties are currently vacant, partially due, he said, to some owners holding …