Rent Prices in Vancouver Plummet. Here’s Why!

Рет қаралды 4,485

Oleg Galyuk - Vancouver Real Estate Agent

Күн бұрын

Пікірлер: 29

@Logical_magic19 2 ай бұрын

2649$ for 1 bedroom?????? That's still such an absolutely wildly high price and that's after 11% lowering? Can rent a whole HOUSE most places for that much.

@anitaweasel Ай бұрын

good news to us renters

@rafaelcardenas515 23 күн бұрын

4:55 The lack of new landlords entering the market better explains why certain property rents are decreasing. This trend is more likely to occur in the short to mid-term rather than a reduction in property prices.

@rafaelcardenas515 23 күн бұрын

1- Although statistics might show a rent decrease for in average, the reality is that prices aren’t moving much. Specially with the lack of supply of new homes and condos (which is the root cause of the whole problem, not international students demand for condos). 2- This lousy drop in prices, despite the dramatic changes introduced about international students, just confirms that the problem was NEVER a DEMAND problem but a SUPPLY problem. In Vancouver and Metro Vancouver where I live since 2023 is really hard to find properties specially compared to Toronto (where I lived from 2017-2022). Again, it is a problem of SUPPLY, Canada really needs to address the issue of building more housing efficiently and much faster!

@huskavarnapunkband 2 ай бұрын

you can rent a 2 bedroom in Burnaby for $2400 utilities included right now. so that graph is a little bit wrong.!! by 800 dollars. lol

@alanvoong7495 Ай бұрын

That’s impossible 😅 any condo near Brentwood or metrotown area are easily $3000+

@rafaelcardenas515 23 күн бұрын

I confirm that, I just rented a 2bd ground level unit in the Metrotown area for $2400 plus 30% utilities. The statistics presented is not wrong but biased.

@greenbayc7199 2 ай бұрын

We rented spacious 4 brs townhouse in Richmond from $2000 to $2250 for 13 years until April of this year when landlord sent us eviction notice... and we decided to buy our own place instead of rent

@rafaelcardenas515 23 күн бұрын

With this interest rate? Good luck with that

@rafaelcardenas515 23 күн бұрын

Also, 4 bd townhouse even in Richmond for $2250 is bargain!

@damsh6408 29 күн бұрын

These prices are still out of this world considering the salaries. I was earning 2300/month in Vancouver so how would I have rent an apartment? Only solution was sharing and the perspective of growing there didn't exist....

@rafaelcardenas515 23 күн бұрын

When we see LESS than $2000 monthly rent for condos and basements THEN we can talk about rents going down. Right now, not even close of that

@jasonfletcher8444 2 ай бұрын

Good news but we still have to ban foreign ownership of real estate.

@rafaelcardenas515 23 күн бұрын

They are already banned…

@as_craft5063 2 ай бұрын

People are also leaving BC for cheaper places. Interprovincial migration.

@rafaelcardenas515 23 күн бұрын

That is a great reason too. Many of my friend are leaving Vancouver and Metro Vancouver to Calgary since last year. Living costs (not only rent) are outrageous here in Vancouver.

@griffinjosh7183 2 ай бұрын

Please also include the rental rates for the last 10 to 20 years so that one can see the historical trend rather than just short term fluctuations.

@brianlagace57 Ай бұрын

Lack of investor's is due to interest rates and home prices today have almost trippled with Trudeau in power

@ccapp3389 Ай бұрын

Sounds great for renters

@hiltonwatkins6750 Ай бұрын

We should be making sure that our own younger generations can avail themselves of educational opportunities… the country needs to start making it more encouraging for them to join the upward mobility….