VANCOUVER, Jan. 30, 2014 /CNW/ - A major shift for the rental industry is occurring: There is an unprecedented 49 new purpose-built projects representing almost 6000 new suites on the drawing board throughout Greater Vancouver.
Traditionally, our rental apartment market has had the lowest vacancy rates in Canada. In spite of our old rental stock averaging 58 years, tenants having to endure an affordable housing crunch and landlords faced with heavy capital expenditures, municipal governments have done little until very recently. But something magical is happening.
Our 2013 - Year-End Review provides an in-depth analysis of the Greater Vancouver rental apartment building market. We looked at this past year's performance vs. 2012's and summed up all 2013 building transactions. Furthermore, we reviewed CMHC's rental market report, highlighted the emerging trend of new rental construction, commented on our city councillors' rental policy, proposed innovative designs for renovating and increasing rental stock and looked at the merits of renting over buying.
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SOURCE Goodman Report