Dr Sam Mehrbod’s Blog

The Real Estate Board of Greater Vancouver reported that in September 2023, there was an increase in new listings of 28.4% year-over-year, helping to bring some balance back to the region's housing market. There was also a 13.2% increase in sales from the same month last year, but the total was still 26.3% below the…

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…

The Government of Canada is investing $107.5 million in loans to Marcon Development for the construction of a 19-storey high-rise with 215 rental units in Vancouver. The high-rise will feature studio apartments, and one-, two-, and three-bedroom units, and will be located near the 41 Avenue Canada Line Skytrain station, parks, schools, and grocery stores.…

The governments of Canada, British Columbia, and the City of Vancouver have announced a combined funding of more than $91 million for a major affordable housing project in Vancouver. The 17-storey building will include 154 residential units and commercial space, and will be designed to passive house standards with mass timber to reduce carbon emissions.…

The City of Vancouver is proposing an amendment to the Moderate Income Rental Housing Pilot Program, increasing rents from 30% of target households' incomes to 20% below the Canada Mortgage and Housing Corporation's average rent. The goal of the program is to incentivize developers to build more below-market rental housing, however, the report says none…

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…

The Vancouver City Council passed a motion to allow for multiplex and character homes to be built on single lots with a maximum of 8 homes. This includes a reduction in the size of single-detached homes but increases the size of laneway houses. The nine RS residential zones have been combined into a new R1-1…

Vancouver City Council has approved changes to zoning and development bylaws that will permit multi-unit dwellings in neighbourhoods that were previously single-home only areas. The changes allow for three to six units on residential lots, depending on size, at a maximum height of three storeys, and allow for seven or eight units only if they…

City councillors in Vancouver are considering increasing fees for services like dog licensing and Uber rides, as a way to reduce the proposed 9% property tax increase for the 2024 budget. The proposed fee increases include a $450 short-term rental license fee, a 25% increase to parking permits, a $250 business license fee, and doubling…