Vancouver-Property-Management

Rent Condo in Vancouver

Rent Condo in Vancouver

Investor-Ownership in Vancouver's Apartment

{ In 2009, there were approximately 23,000 units that were investor-owned in Vancouver or

35% of the city's apartment condominium stock. |More than half of the investor-owned

Summary - 2

units were located Downtown (53%). Fairview/Kitsilano, and the West End areas housed

another 31% of investor units.

Investor units were typically found to be in newer and larger buildings compared to owner-

occupied units.

It appears that, over time, a shift to owner-occupancy occurs.

By

comparison, the other areas of the city (particularly Fairview/Kitsilano and the West End)

had a smaller share of investor ownership in 2009 compared to 2001.

Apartment Condominiums as Rental Property

The estimates for investor-ownership provided a general indication of the proportion of the

apartment condominium stock that has the potential to be rented. It is understood that not all

of the 23,000 investor-owned units will necessarily be rented.

it could be estimated that up to

6,000 units or one quarter of the investor-owned stock may not be rented.

Apartment condominium units were found to have higher rents than purpose-built rental

units.

The data sets showed a 20% rent premium for one-bedroom units ($1,049 for

apartment condominiums compared to $871 for purpose-built units) and a 25% premium

for two-bedroom units

of the Condo Homeowners' Association.

These figures are based on a sample of 592 buildings, representing 39% of

buildings in Vancouver.

The third data set is based on a survey of Downtown units and was skewed

towards a stock of older and generally smaller buildings.

Vancouver

Apartment

Condominium

Vancouver Classifieds in Vancouver Housing Section Classified

Vancouver-Property-Management

By: Heath Ramsey

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