Readers of the Vancouver Sun in recent days are getting their fair share of news on the rental situation of both residential and commercial. The city’s average residential rent (based on two-bedroom apartments) sits at nearly $1,200/month; and is the most expensive in Canada. Meanwhile, commercial retail rental rates on Robson Street are 3rd most expensive in Canada. Here are a few of the articles you’ll find in recent days.
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Vancouver’s average rent, at $1,181, most expensive in Canada: CMHC
Demand is outstripping supply in the country’s apartment rental market, pushing the national vacancy rate lower and making it more difficult for renters to find accommodations, Canada Mortgage and Housing Corporation reported Thursday.
23 Metro Vancouver rental apartments: From $850 to almost $10,000 a month
The following are 23 two-bedroom rental properties in Metro Vancouver listed on Craigslist, and it appears getting a unit for the average price of $1,181 within city limits will be very challenging for renters.
Photos: The highest rents in Canada’s major cities
Find out what the average monthly rents are in Canada’s major cities according to Canada Mortgage and Housing Corp.’s April 2011 Rental Market Survey.
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As a mortgage lender in Western Canada, Alta Pacific keeps a keen eye on property values, rental rate changes, changes in vacancies, job growth, overall economic indicators (to name a few) in the Western Provinces. We also look outside our Provinces to see what might cause pressure on one or many of these in the coming months, quarters or years. We do this so we are well prepared to advance mortgages to borrowers in primarily BC and Alberta.
If you are interested in learning how you can share in the returns generated by mortgages, we invite you to learn about Alta Pacific MIC. We focus on consistent returns for registered investors (those with RRSP, LIRA, RESP, TFSA etc.) or open investments (for folks with cash on hand). Alta Pacific works with Western Canada’s best Exempt Market Dealers and we can introduce you to folks that will work to understand your current situation and future needs; and who can assist you in choosing the right Alta Pacific options for your investment. Or feel free to contact us directly with any questions you might have.
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