Branch condos oakville . The housing vacancy rate has risen sharply, and rents have risen instead of falling. The vacancy rate of rental housing in Dawen area rose sharply last year.Please Visit: Branch condos oakville to Get Your VVIP Registration Today!
However, rents are rising instead of falling. Under the current severe epidemic situation, only a small number of tenants can afford it. In addition, the housing rent in Vancouver is still the highest in the country.
One: the vacancy rate of special (purpose-built) rental apartments in Dawen area rose from 1.1% the year before last (2019) to 2.6% last year (2020). The main reason is that the epidemic has led to excessive supply and reduced demand.
Second: in the past six years, the vacancy rate of rental apartments in Dawen area has hovered around 1%; last year, it recorded the largest increase in vacancy since 1999.
Third, the high vacancy rate is directly related to the epidemic situation and the economic downturn. It is because many tenants leave the urban areas and move to areas with lower rents.
Four: take Vancouver as an example, the decline in vacant rental apartments last year includes:
A: employment opportunities are declining.
B: fewer immigrants.
C: affected by the epidemic, many international students take classes online and do not need to rent a place to live.
One: Vancouver is still the most expensive city in the country, with the average rent of a two-bedroom unit increasing by 2.7% to 1792 yuan last year (2020). (the report shows that Toronto ranks second with 1653 yuan and Ottawa ranks third with 1517 yuan.).
- At present, the average rent for vacant flats is $2554.
Third, for families with an average annual income of less than 25000 yuan, only 2% of the apartments can afford it.
Fourth, families with an average annual income of less than 47000 yuan have less than 1×4 units to choose from.
Due to the unaffordability of housing rents in the urban areas, there was a decline in the housing vacancy rate in peripheral cities such as Apolford and Misson last year (2020), mainly because tenants chose to rent in these suburban cities.
The report also pointed out that the vacancy rate of rental units in Victoria, the provincial capital, also increased, rising by 2.2% last year (2020), but the average rent still rose by 3.3%.