Home > Vancouver real estate > Rental Housing Crisis looming

Rental Housing Crisis looming


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Metro Vancouver needs 65,000 new rental units a year, yet only 600 are built annually. Metro Mayors blamed the Federal Govt eliminated tax incentive & capital gains exemption in the 1980s & 1990s. This resulted in landowners focusing more on developing condos because they are more profitable than rental housing. Since 2004, only 6% of new market development has been rental housing, despite the fact 52% of residents don’t own their own units. Condo units tend to be on average 45%-60% higher than typical rentals because they include features like Concierge service, in-suite laundry & fitness facilities. However, they have the “saving grace” in Metro Vancouver because they have eased the rental crunch by adding new stock to the rental pool. To read more, go to Rental housing crisis looming.

 

 

Tina Mak Personal Real Estate Corporation

Vancouver Radio Realtor AM1320

The Bridge from East to West since 1992

http://www.TinaMak.com

http://www.TinaMak.ca 温哥华中文地產綱站

http://www.GenYrealestate.ca

604-412-5860 

 

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Categories: Vancouver real estate
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