- City encourages building rental units - is $1366 affordable for studio + can land costs justify this?!
- Downtown & West End Vancouver vacancy rate is 0.3%
- Increase supply warning
Condo stock adds to Rental
Metro Vancouver has seen very little purpose-built rental apartment units come onto the market in recent years. Investors in condominium apartments have helped to fill the supply gap.
About 40% of units in condominium apartment developments completed in 2006 to mid 2011 were being rented out in 2011, according to new data from the 2011 National Household Survey (or approximately 17,000 units of the close to 42,000 total built). Units in high-rise condominium buildings were more likely being rented out than those in low-rise buildings.
Value of the West End in the ol' days
|Pacific Palisades construction in 1966. Photo credit: Vancouver Public Library|
With The Grob as mentor, we effected 70% of all the apartment trades in Vancouver's West End. Barry Groberman has been a good teacher and continues to be active.