REAL ESTATE

Vancouver rental market unique

OVER 90% of all the new
market rental housing added
to the rental stock in met-
ropolitan Vancouver in the
second half of the 1980s
came from non-conven-
tional sources, according to
a report recently released by
Canada Mortgage and
Housing Corporation and
British Columbia Housing
Management Commission.

The report, Rental Hous-
ing: A Study of Selected
Local Housing Markets,
prepared by Clayton
Research Associates, noted
that 28,500 units of market
rental housing were provid-
ed from individual con-

VIEW CONDO
, + BDRM * LOWER LONSDALE
* Desirable South West tocation in

Concrete Hi-Rise

* Absolute privacy, sunshine and
panoramic views of city and
Lions Gate to Grouse Mtn.

* Deluxe suite with quality interior
finishing and new appliances

* Pets and Rentals 0.K.

$156,000
THIS IS A WINNER

dominium suites and sec-
ondary suites in single fami-
ly hames, as compared to
3,100 units built in rental
projects in the 1985-1989
period.

In the other
centres in the
Montreal, London,

Canadian
study —
Win-

‘nipeg and Calgary -—- con-

ventional rental production
provided the majority of
additional rental housing. In
Montreal, for example,
some 50,000 rental units
were created by conven-
tional rental construction as
compared to 6,500 from
non-conventionai sources.
The main difference be-
tween Vancouver and other

centres was the cost of
building rental housing. A
typical new rental suite in
Vancouver costs $103,430 to
build as compared to
$56,725 in Montreal.

The booming con-
dominium market in metro-
politan Vancouver coupled
with the lack of pre-zoned
land available for apartment
and row housing in the se-
cond half of the 1980s
crowded out rental devel-
opments. While these fac-
tors made the Vancouver
rental housing market
unique, they have led to the
need for rental housing be-
ing met in a distinct way.

«YOUR HOUSESOLD REALTOR”

TERRY RAUMAN

building

OP

— call now ic have a look

*gulton.group.- sentinel really

AN INDEPENDENT.) MBER "BROKER |

6235120
1 BDRM — $75,000]

x Spacious suite in co-op

approx. 650 sq.ft.

* Convenient Lonsdale location
* No rentals or pets allowed
# Clean move-in condition!

PRICED TO SELL
#210-1033 ST. GEORGES AVE.

EN SUN. 2-4

7 go54144

168 cHADWiCcK. ©

.

Friday, March 27, 1992 — North Shore News - 83

168° CHADWICK:

@ Exclusive ‘waterfront’ condominiums now
at reduced prices

M Choice Lonsdale Quay location
@ Just minutes to downtown Vancouver

@ Gas fireplaces

@ 6 major appliances

@ Huge storage lockers

@ Proven builder - ‘‘Bosa Developments”

@ Open every Tuesday, Thursday

and Saturday 1-4

MICHAEL K. CHIANG 657-7266
KERRY D. WONG 250-6898
SUTTON GROUP
BROADVIEW REALTY
738-1000

YOUR CONDO

UNTIL YOU'VE
TALKED 10

TERRY & BERT

TAKE ADVANTAGE OF THE OPPORTUNITY
TO EMPLOY THE CONSISTENT LEADERS
OF CONDO SALES ON THE NORTH SHORE
WITH OVER 100 SALES DURING THE PAST YEAR

TERRY
RAUMAN
623-5120

“ sutton “‘grors

ier é

BERT
HEAPS
657-0529

AN.INDEPENDENT, MEMBER: BROKER

2

WOIUMGV.HD Bot

-MOTMaAVHO 89...