In B.C., a glut of supply could ease affordability
In the B.C. housing market, there’s good news for renters and bad news for investors in the year ahead. There will be a continued lacklustre presale condo market which means investor-owners of condos will have to adjust their rents. As well, rents will continue to drop as new purpose-built rentals come online, say industry insiders.
Case in point: downtown Vancouver, particularly the luxury condo market, where investors try to get more than $6 per square foot rent for a unit.
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