Navigating Vancouver’s housing market can feel like solving a Rubik’s Cube in the dark. With high home prices and rising rents, many people wrestle with one of life’s biggest financial questions: Should I rent or buy? While there’s no universal answer, understanding the pros and cons of each can help you make an informed decision. The Case…
When you’re buying your next home after selling your current one, timing is everything. It’s the difference between a smooth handoff—and scrambling to find a place to stay in between. That’s why creating a clear moving timeline is so important. With the right plan, you can avoid unnecessary stress, minimize costs, and make your transition…
More countries now have digital nomad visa programs; however, to qualify, you must meet the salary or savings requirement. If you’ve always dreamed of working from a beach or a cafe in Rome, digital nomad visas are a great opportunity for remote workers to get work done while living abroad. But before you book that plane ticket and pack your bags, it’s important to note that each country has its own list of specific requirements. These visas allow you to stay and work in the country for several months or up to a year. For example, Japan only issues digital nomad visas for up to a year, and they can’t be renewed. To be eligible, you must meet each country’s salary requirements or proof of assets for visitors, which are often significantly higher than the average local income. In addition to proof of income, other requirements can include a clean background check, proof of accommodation, health insurance coverage, and a significant amount in savings. Given that the average hourly wage in Canada in 2024 was $35.24, how realistic are these requirements for the average Canadian? Here are five countries that issue digital nomad visas and their requirements for income or proof of assets. Thailand Day2505/Shutterstock Proof of financial assets: At least 500,000 Thai Baht (C$20,943.20) From its intricate temples to sandy white beaches, there are plenty of reasons why Thailand is such a popular tourist destination. Last year, the Thai government announced the Destination Thailand Visa (DTV), informally known as the “digital nomad visa.” The visa is valid for five years and allows for multiple entries, with a maximum stay of 180 days per entry. You’ll also have the option to include family members in your application. Italy Kaspars Grinvalds/Shutterstock Salary requirement: 24,789 Euros per year (C$38,672) Log in at work during the day, then wrap up your work day by strolling along the cobblestone streets in popular Italian cities like Rome or Florence. Not only is the country ideally located to allow you to explore surrounding European countries, but there’s plenty to do should you decide to spend your entire stay in Italy. According to the Consolato General d’Italia in New York, as of 2024, to qualify for the digital nomad/remote worker visa, you must earn 24,789 Euros per year or C$38,672. The visa allows you to sponsor a spouse or a child under 18. United Arab Emirates frantic00/Shutterstock Salary requirement: Minimum of US$4,891 (C$3,500) per month The United Arab Emirates may be known for opulence and Dubai’s unique architecture, but it also offers rich cultural experiences through its souqs and local cuisine. If you’re a remote worker who’s always been curious about life in the UAE, you can apply for the virtual work visa. According to the government of Dubai, you can get a visa that allows you to sponsor your family and remain in the country for 60 days. Japan gingerm/Shutterstock Salary requirement: 10 million Japanese Yen per year (C$95,851) From Mount Fuji to the futuristic Tokyo skyline, there’s just way too much to see in Japan. If you can’t imagine condensing all of it into a standard two-week trip, then a six-month digital nomad visa might be the perfect choice. According to the Ministry of Foreign Affairs, as a main applicant, you’ll be issued a six-month digital nomad visa (with no extensions), and you can bring a spouse or child. Iceland Mallmo/Shutterstock Salary requirement: 1,000,000 Icelandic Króna (C$10,685) per month or 1,300,000 Icelandic Króna (C$13,891) per month if you’re also applying for a spouse or partner If you love Iceland’s dramatic and rugged landscapes, it’s certainly a great place to consider life as a digital nomad. In addition to its rich Viking history, you might even be lucky enough to spot the Northern Lights. According to Iceland’s Directorate of Immigration website, the long-term visa for remote work allows you and a partner to stay in Iceland for 90 to 180 days.
Posted April 30, 2025 4:15 pm. Last Updated April 30, 2025 4:16 pm. The B.C. housing market is softening, with buyers pulling back on sales due to concerns around the Canadian economy and the U.S. trade war. The BC Real Estate Association released its 2025 second quarter housing forecast Wednesday. The association says it expected a strong 2025 for sales, but that hasn’t happened. Chief Economist Brendon Ogmundson says buyers have pulled back in the first quarter of the year. “We were expecting something close to a normal year. So that would be around 85,000 sales. Instead, we’re running 20 to 25 per cent below that pace. So sales have really, really come off. Buyers just don’t have a lot of confidence right now because of all that uncertainty,” said Ogmundson. He says the inventory of homes has reached the highest level in about a decade. “And that means lots of choice for buyers, lots of time for buyers — not a whole lot of urgency. Sellers are also not in a hurry to lower their prices,” he explained. But Ogmundson explains that increased supply hasn’t done much to change prices. “[Sellers] seem very, very patient, so we’re not seeing a whole lot of movement on the price side. Prices have been essentially flat for the past 18 months — down a little bit in more expensive markets, Fraser Valley and Vancouver, but down by [around] one to two per cent.” He says B.C. has “all the ingredients” for a much stronger market, and sales were up in the last quarter of last year. “And now, suddenly, they aren’t. The only thing you can really see that’s changed is a lot of uncertainty about the future of the economy.” —With files from Sonia Aslam
Despite an ample amount of listings, the spring slowdown of Metro Vancouver home sales continued in April. According to the latest data from the Monthly Listing Sales (MLS) report from Greater Vancouver Realtors (GVR) and the Fraser Valley Real Estate Board, April home sales across the region remain slow. The GVR report highlighted that in April 2025, the residential sales in the region totalled 2,163, a 23.6 per cent decrease from the 2,831 sales recorded in April 2024. This was 28.2 per cent below the 10-year seasonal average of 3,014. “From a historical perspective, the slower sales we’re now seeing stand out as unusual, particularly against a backdrop of significantly improved borrowing conditions, which typically helps to boost sales,” stated Andrew Lis, GVR director of economics and data analytics, in the report. Roman Makedonsky/Shutterstock “What’s also unusual is starting the year with Canada’s largest trading partner threatening to tilt our economy into recession via trade policy, while at the same time having Canadians head to the polls to elect a new federal government. These issues have been hard to ignore, and the April home sales figures suggest some buyers have continued to patiently wait out the storm,” he added. There were 6,850 detached, attached and apartment properties newly listed for sale in April 2025, representing a 3.4 per cent decrease compared to the 7,092 properties listed in April 2024, and a 19.5 per cent increase in the 10-year seasonal average. A total of 16,207 homes are currently listed for sale on the MLS in Metro Vancouver, an uptick from the 14,546 homes listed in March 2025. It is also a 29.7 per cent increase compared to April 2024 (12,491) and 47.6 per cent above the 10-year seasonal average of 10,979. The MLS Home Price Index composite benchmark price for all residential properties in Metro Vancouver currently sits at $1,184,500, a slight decrease of 1.8 per cent from the year before and a 0.5 per cent decrease compared to March 2025. Detached home sales were recorded at 578, a 29 per cent decrease from the 814 detached sales recorded in the same month in 2024. The current benchmark price for a detached home is $2,021,800, which decreased by 0.7 per cent from April 2024 and a 0.6 per cent decrease compared to March 2025. Sales of apartment homes were 1,130 last month, down 20.2 per cent compared to April 2024. The benchmark apartment price is $762,800 — a 2 per cent dip from the same month last year. Attached home sales in April (442) were also slightly slower than what they were in April 2024 (580). The current benchmark price for a townhome is $2,021,800 — a 0.7 per cent decrease year-over-year. GVR The sales-to-active listings ratio for April 2025 for detached, attached and apartment property types was 13.8 per cent. Lis noted that while the market remains tough, there are some positives worth highlighting. “Inventory levels have just crested 16,000 for the first time since 2019, prices have stayed fairly stable for the past few months, and borrowing costs are the lowest they’ve been in years,” he stated. “These factors benefit buyers, and with balanced conditions across the market overall, there’s plenty of opportunity for anyone looking to make a purchase.” The jurisdiction of GVR, previously known as the Real Estate Board of Greater Vancouver (REBGV), includes not only Vancouver, Burnaby, Coquitlam, Port Coquitlam, Port Moody, New Westminster, North Vancouver, West Vancouver, Richmond, South Delta, Maple Ridge, Pitt Meadows, and Bowen Island, but also the Sunshine Coast, Squamish, and Whistler. Other areas of Metro Vancouver are under the jurisdiction of the Fraser Valley Real Estate Board (FVREB), including Surrey, Langley, White Rock, and North Delta, as well as the Fraser Valley cities of Abbotsford and Mission. According to the FVREB, the number of home sales in its jurisdiction in April 2025 saw a “growing inventory” of over 10,000 active listings, but sales remained sluggish. The FVREB recorded 1,043 units sold of all types in April, up one per cent from March, but a 29 per cent year-over-year decrease. Baldev Gill, FVREB CEO, noted that U.S. tariffs and economic uncertainty continue to impact buyers. “However, with the federal election now behind us and a new administration in place, there’s cautious optimism that a fresh approach to strengthening the economy could be on the way, which is welcome news for the real estate sector,” he said. In April 2025, the benchmark prices in the FVREB reached $1,506,600 for single-family detached houses (up 0.1 per cent from March 2025), $833,100 for townhouses (down 0.1 per cent), and $537,800 for condos (down 0.6 per cent). Single-family detached homes remained on the market for an average of 32 days in April, and just over 29 for the other townhouses and condos. With files from Kenneth Chan
The Butterfly on Nelson Street in Vancouver Nov. 21, 2023. Photo by Arlen Redekop /PNG Article content Thousands of presale buyers in Metro Vancouver face completing their purchase of condos that are now worth less than they were in 2022 and 2023 when they signed the contracts to buy them. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Vancouver Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Vancouver Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Sign In or Create an Account or Article content Article content More than half of the appraisals required by mortgage lenders to complete sales are now coming in at values lower than original sale prices. Article content As a result, lenders will only write smaller mortgages. That means condo buyers have to satisfy lenders by ponying up the difference between the unit’s value in 2022 or 2023 and what it is worth now, either by putting in more cash or refinancing. Article content Article content A Vancouver appraiser who works with banks, law firms and mortgage brokers is raising the alarm because the buildings are now built and developers are trying to finalize sales. Article content By signing up you consent to receive the above newsletter from Postmedia Network Inc. Article content “Presales don’t always go up. There was that mindset where if it happened before, it’s going to happen again,” said Adam Lawrenson, owner of Vancouver-based Adlaw Appraisals. “I can’t say an exact number, but over half (of appraisals) are now coming in below their sale price.” Article content He estimates condo values have dropped between five and 20 per cent below what buyers originally promised to pay when they put down a non-refundable deposit. Article content That’s one reason why a growing number of buyers are looking to sell these new or barely used properties. This market glut and a lack of demand is helping drive down prices. Article content “You can easily get a brand new unit or a one- or two-year (old) unit at a cheaper price point than these presales, so that comes into play when we are doing our appraisal and looking at current market values.” Article content Article content With sellers dropping prices to speed up sales, that sets a new base for future, lower, appraisals. Article content Article content No area in the Lower Mainland is immune, but there are some buildings and areas that are more susceptible to having units “being underwater.” Article content There are “areas of Langley that got overbuilt and developers were leaving them vacant for six to 12 months, in hopes the market would turn around. But you can only hold for so long before you have to start selling them,” Lawrenson said. Article content There are also a few buildings in north Burnaby where presale buyers are now looking to get rid of units as soon as they close their sale. Some have 30 listings of one-bedroom apartments. Article content There are also some higher-end buildings in downtown Vancouver, such as The Butterfly on Nelson Street, with presale units that sold at presale for over $2 million. Some of these have appraisals that are now down $300,000 to $500,000 from their original prices, said Lawrenson. Article content According to research by Rennie Intelligence, which does marketing for major developers, investors made up around half of all buyers in the years between 2021 to 2023.
Ledcor has applied on behalf of Telus for the rezoning and redevelopment of an existing Telus owned property at 6486 Chester Street in East Vancouver. The site is an existing infrastructure site for Telus, one of several proposed for residential redevelopment. The proposal is to allow for the development of a 6-storey rental project that includes: 116 rental units; a telecommunications facility on the northeast corner of the site; a total density of 2.89 FSR; A building height of 73 ft. This application is being considered under the Secured Rental Policy. The architect for the project is Yamamoto Architecture. The full rezoning application can be viewed here: https://www.shapeyourcity.ca/6486-chester-st
The Canadian Dental Care Plan (CDCP) is now accepting more applications. Implemented in 2023, the program aims to decrease dental costs for Canadians earning less than $90,000 annually. The federal government says the dental plan will help up to nine million uninsured people get the care they need. Applications opened for eligible Canadians ages 18 to 34 on Thursday. The CDCP will expand eligibility even further later this month, on the 29th, for those aged 35 to 54. “The Government of Canada will send letters to Canadian residents aged 18 to 64 who may be eligible to the Canadian Dental Care Plan (CDCP), based on their 2024 adjusted family net income, inviting them to apply,” reads a government notice. “If you (and your spouse or common-law partner, if applicable) have filed your 2024 tax returns and received your notice of assessment from the Canada Revenue Agency, you can apply once applications open up for your age group, even if you haven’t received this letter.” If you’re already covered by the dental care plan, you’ll need to renew for the 2025 to 2026 period before June 1 to avoid a possible gap in coverage. To do this, you must have filed your 2024 tax return and received the notice of assessment from the Canada Revenue Agency. Who qualifies for the Canadian Dental Care Plan? You must meet all of the following requirements to be eligible for the dental care plan: You’re a Canadian resident You don’t have access to dental insurance through your employer, student organization, a family member’s employer benefits, your pension, or a family member’s pension benefits You’ve filed your tax return Your adjusted family net income is less than $90,000 Canadians who are part of their province’s or territory’s dental program can still qualify for the CDCP if they meet all eligibility criteria. What does the CDCP cover? These are some of the dental services it covers: Preventive services, including scaling (cleaning), polishing, sealants, and fluoride Diagnostic services, including examinations and X-rays Restorative services, including fillings Periodontal services, including deep scaling Oral surgery services, including extractions It expanded the services it covers in October to add the following: Complete specialist examinations Crowns Root canal re-treatments Removable partial dentures, overdentures, and immediate dentures Major surgical procedures Moderate sedation, deep sedation, and general anesthesia The government notes that the dental plan does not directly pay eligible members for the cost of dental care services. Even if you’re eligible, you may still have to pay your oral health provider any amount not covered by the CDCP. This article was originally published on May 11, 2025. It has since been updated.
After nearly a decade of proposals, pushback and debate, a plan to build a set of towers next to one of Metro Vancouver’s busiest transit hubs is getting a public hearing. About 100 people have signed up to speak for and against the proposed redevelopment of a Safeway lot next to the Commercial-Broadway SkyTrain station. The plan before council envisions three towers, with heights of 44, 38 and 37 storeys, comprising 1,044 rental homes. 2:14 Drastic changes made to Broadway-Commercial Safety redevelopment plan Ten per cent of those units would be secured at city-wide average market rates, while the remainder would lease for going market rates. Story continues below advertisement The proposal has generated strong feelings on both sides, with supporters arguing more housing is critically needed, particularly near transit, and opponents arguing the units won’t be affordable. “Vancouver has a crushing shortage of housing. For decades, we have not been building enough housing, and this neighbourhood, Grandview Woodlands, is a great example of this, we basically haven’t built much new housing there since the 1970s, and as a result the population there is actually declining … despite the fact this SkyTrain station we are talking about is one fo the busiest transit hubs in the country,” Peter Waldkirch, director of Abundant Housing, told CKNW’s The Jill Bennett Show. “Burnaby just proposed an 80-storey tower … it’s actually quite perverse, it’s backwards that we are building bigger and taller buildings than this in the suburbs than we are in the heart of the city.” Get daily National news Get the day’s top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Opponents like Craig Ollenberger, chair of the Grandview Woodland Area Council, say the proposed secured market rental requirement is far too low. A rendering of the trio of proposed towers for Commercial and Broadway in Vancouver. City of Vancouver 2:05 Public hearings on controversial East Vancouver development postponed again Speaking on CKNW’s The Jas Johal Show, he said the city should look to replicate what it did in the Broadway Plan, which is 20 per cent of units at 20 per cent below market rates. Story continues below advertisement “It is bringing nothing but 1,000 luxury rental units to our community, suites that nobody will be able to afford. And for that the city is only asking for 10 per cent of the units to be at market rent,” he said. “This community, the majority of people can’t afford market rent.” The proposed redevelopment would also include a 37-space child care facility, a ground-level public plaza and an upper-level courtyard. Trending Now The development has been contentious ever since it was first put forward in 2016, as part of the broader Grandview-Woodland Community Plan approved by the council led by then-mayor and now federal Housing Minister Gregor Robertson. Neighbourhood groups had rejected a previous version of the community plan, arguing it would radically change the neighbourhood’s character, and the pushback led to a municipal citizens’ assembly whose feedback was eventually integrated into the revised 2016 plan, which included a maximum tower height of 24 storeys. A proposal for the Safeway site envisioned two towers, one of them hitting that threshold. 2:04 Grandview Woodland development tour A subsequent version of the proposal, with the tallest tower reaching 30 storeys and composed mostly of condos, nearly made it to a public hearing in 2022, but was sidelined by the 2022 municipal election. Story continues below advertisement “The economics have changed. Rents were lower a few years ago … interest rates were lower … community expectations were different. I think when this project started getting negotiated, you could argue against the need for more housing more successfully,” said Tom Davidoff, an associate professor of economics at UBC’s Sauder School of Business. Davidoff said the pressure to get new units built and to comply with the provincial and federal governments’ transit-oriented density requirements will likely weigh in the project’s favour. The site would sit virtually on top of the intersection of two SkyTrain lines and the 99-B Line bus route. It’s TransLink’s third-busiest transit hub, and saw more than 6.2 million boardings in 2023. “If you can’t have density at the intersection of streets named Commercial and Broadway, where there is a major transit intersection, I don’t know where you want people to go,” Davidoff said. With scores of people signed up to speak, Wednesday’s hearing could go late into the evening, — with files from Alissa Thibault © 2025 Global News, a division of Corus Entertainment Inc.
A massive new mountain bike park will soon open at Grouse Mountain, and outdoor enthusiasts are ready to ride atop the Peak of Vancouver. The resort announced today that Grouse Bike Park will open on June 6, 2025, with a variety of tracks and trails for cyclists of all skill levels. North Shore’s first and only chairlift-accessed mountain bike park is part of Grouse Mountain’s $9 million investment into expanding its year-round offerings, originally announced last summer. Grouse Mountain “The current and growing enthusiasm for mountain biking in the Lower Mainland, combined with Grouse Mountain’s existing infrastructure and terrain, makes Grouse Bike Park a natural next step as we continue to enhance all-season offerings and the overall guest experience,” said Michael Cameron, President of Grouse Mountain Resort, in a release. “The trails at Grouse Bike Park cater to riders of all skill levels, and we’re excited to feed the appetite of the community while contributing to the renowned trails already present on Vancouver’s North Shore.” Gravity Logic, the same company behind the design and build of Whistler Bike Park, constructed the Grouse Bike Park project. The new outdoor destination will feature nearly 10 km of trails, including beginner green and blue flow trails and advanced intermediate and expert trails. Grouse Mountain There will also be a blue jump line, single black technical trails, and a double black single track opening in June, with a single black jump line scheduled to open sometime in the summer. Grouse Bike Park features a vertical of 900 m and will also include a skill zone. All trails will lead back to the Screaming Eagle Chairlift, which will return riders to the mountaintop. The resort will also open a new gravity-fed mountain coaster as an annual seasonal attraction, set to open in Spring 2025. Construction on the coaster began in 2023. Fall 2024 testing of the new Blue Grouse Gondola at Grouse Mountain Resort. (Grouse Mountain Resort) The spring openings of the coaster and bike park were timed to happen after the recent opening of Grouse Mountain’s $35 million new access gondola between the base parking lot and the plateau level next to the Peak Chalet. The new access gondola replaces the 1960s-built Blue Skyride, which recently closed permanently and is being decommissioned. Season passes for Grouse Bike Park are on sale now, with day passes becoming available closer to June’s opening date. With files from Kenneth Chan