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commercial real estate service office vancouver bcWhile the average rent for a one-bedroom apartment in Vancouver dipped by 1.1% this month, the city still holds the highest rent for that home type across Canada.
 
On average, Vancouver tenants pay $1,820 for an apartment with one-bedroom. This figure beats out Toronto ($1,500 for a one-bedroom), Victoria ($1,220), Montreal ($1,100) and Calgary ($1,080).
 
According to Greg Vanderhorst from PadMapper, the reason for the drop isn’t entirely known. “It is unclear whether the falling one-bedroom prices are due to the recently passed legislation or merely seasonality that we frequently see in the rental market as we get into the winter months.” 
 
On the other hand, two-bedroom apartments in Vancouver experienced a rent increase in December, which was up 3.7% to $3,030.
 
To view the PadMapper Canadian Rent Report in its entirety, please click here. Or, to learn more about multi-family investment opportunities across the Lower Mainland, please contact our Vancouver office to speak with a commercial real estate broker. 
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