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Market Report

Vancouver Multifamily Market Report

Fourth Quarter 2019

Investors Gauge Holdings Amid Mounting Regulations and Robust Property Metrics

Expanding tech hub and population gains keep rental demand elevated. Metro Vancouver remains a highly desirable place to live and work while also being a challenging market to build in, compounding the current housing crunch as the city receives tens of thousands of immigrants each year. In spite of stout population gains, job growth has started to wane in recent months, resulting in a net increase of a mere 1,800 jobs over the 12 months ended in September. An unemployment rate of 4.8 percent in the same month has created difficulties for companies in search of suitable talent, particularly as major tech firms including Amazon and Microsoft are actively hiring. The Canadian government has invested millions of dollars into Vancouver’s Digital Supercluster program with the aim of turning the metro into a top hub for artificial intelligence innovation and priming the market for public and private collaboration.

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