3551 Commercial Street
Barbra Yaffe, Vancouver Sun
July 31, 2014
Rental availability is particularly crucial because ownership costs are so wild
VANCOUVER — A spate of new, relatively affordable rentals in Vancouver is doing little to ease the vacancy rate in one of Canada’s meanest residential markets.
In its latest forecast, Canada Mortgage and Housing projected Greater Vancouver’s vacancy rate for purpose-built rental apartments will be 1.9 per cent this year, tightening to 1.8 per cent next.
Only Calgary and Edmonton have tighter rental markets.
A healthy market has a vacancy rate between three and five per cent.
In Vancouver, rental availability is particularly crucial because ownership costs are so wild.