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As the price of single-family housing has soared to unprecedented levels in Vancouver, the number of new condominium sales has increased, along with prices. According to the Real Estate Board of Greater Vancouver, the benchmark price for a condo in July 2016 was $510,600 in the region, up 27.4 per cent from the same month in 2015. [6]
In 2020, in Toronto, 21% of all housing, and 56% of condos were investor owned. In Vancouver, nearly 48% of condos, and 33% of all housing was owned by investors. [81] Across Canada, 1 in 5 homes were investment properties. Investors were found to be increasingly crowding out prospective first-time buyers in a 2024 analysis. [82]
The British Columbian city is Canada's official gateway to the Pacific Rim, a major port, and the main western terminus of transcontinental highway and rail routes. Vancouver has successfully transitioned from a predominantly resource-based economy to a diverse knowledge-based one, and in recent years has been the fastest growing economy in ...
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The neighbourhood's residents have an average annual household income of $111,566 ($777,184 in Shaughnessy Heights) and the average house price is $2.89 million, the highest in Vancouver. [ 3 ] [ 4 ] It is also the site of many historical homes, especially in First Shaughnessy.
Lower price: Condos usually have much lower entry ... based on an analysis of annual income needed to afford a median-priced home in all 50 U.S. states and the District of Columbia in 2024 ...
The median 2016 family income in Kensington–Cedar Cottage was $77,240, which is lower than the 2016 Vancouver average of $83,845. [ 5 ] Panethnic groups in the Kensington–Cedar Cottage neighbourhood (2001−2016)
The robustness of the condo markets in Toronto and Vancouver are based on the lack of land availability. [41] The average capitalization rate in the Greater Toronto Area for Q3 2015 hit its lowest level in 30 years: in Q3 2015 it stood at 3.75 per cent, down from 4.2 per cent in Q2 2015 and down almost 50 per cent from the 6.3 per cent posted ...
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