Tagged: Rental Unit

Rental Units

Demand sparks bump in rental units

Rental apartments are frustratingly difficult for developers to build in Metro Vancouver’s high-priced real estate markets, but builders have started work on more of them in the first half of 2010 than in similar periods over the past five years.

The total number is quite small, 475 compared with 6,881 housing starts overall in Metro Vancouver, Canada Mortgage and Housing Corp. reported Friday. However, market analyst Robyn Adamache said it reflects that developers may be responding to the city’s demographic needs.

Adamache said the new units are spread across five buildings, which include mixes of market-rental housing, seniors’ housing and other unit types.