vancouver

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    Vancouver falls down the list of top cities in the world for 2025

    Bymichael

    Vancouver is known around the world thanks to top attractions like the Honda Celebration of Light and award-winning dining spots. However, a new ranking has revealed the city is slipping a bit compared to its peers. The Oxford Economics Global Cities Index has released its report for 2025, which is a holistic ranking of the 1,000 cities included in its Global Cities Forecasting Service. Cities are scored across five categories to achieve a well-rounded comparison of locations. The five categories are Economics, Human Capital, Quality of Life, Environment, and Governance. Vancouver has made the list once again this year; however, it has slipped a few spots down the newest global ranking. Kenneth Chan/Daily Hive Vancouver came in 20th place last year, ranking 35th in economics, 33rd in human capital, 78th in quality of life, 149th in environment, and 52nd in governance. In 2025, Vancouver dropped 17 places to land in 37th place, with rankings dipping in three categories: 53rd in economics, 52nd in human capital, and 186th in quality of life. However, the city’s score jumped in two categories: it ranked 61st in environment and 27th in governance. “Arguably one of the most picturesque cities in the world, it is no surprise that Vancouver is such an attractive location for many Canadians and international migrants,” wrote Oxford Economics Global Cities Index in its report. “For those who can handle the steep housing costs, there are few other cities that can match Vancouver’s economic strength and human capital.” Charles HHuang/Shutterstock The Global Cities Index covers the 1,000 largest cities in the world, which are located in 163 different countries, including 103 cities in Canada. Toronto ranked as the highest city in Canada on the list at #20, with Montreal coming in at #43, and Ottawa-Gatineau at #88. Calgary landed in #50 and Edmonton settled even further down on the list, coming in at #131. You can check out the full ranking online. With files from Laine Mitchell

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    The Process for Estate Sales in BC

    ByStan S.

    Estate sales in British Columbia generally involve the sale of a deceased person’s property, usually handled by the estate executor named in the will or appointed by the court if no will exists. The process can vary depending on whether the deceased left a will and the type of assets involved, but generally follows several…

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    Foreclosures in BC – Everything You Need to Know

    ByStan S.

    Some of my clients have been asking me if I have been seeing more foreclosures in our market place. Some have also been curious as to what I think about foreclosures as a vehicle to potentially buy property for less than market value. To better engage in this conversation I feel that it is important…

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    Vancouver aiming to grow urban forest canopy but don’t expect the promised 100,000 new trees soon

    ByStan S.

    Article content Vancouver’s “greenest” city plan, approved in 2011 by the city’s then Vision-Vancouver-majority government, set a target of planting 150,000 trees by 2020. According to a 2020 city presentation, 139,000 trees were planted by that deadline — an average of almost 13,900 a year, far more than the recent pace. Article content Vancouver staff said Wednesday that the city’s focus will be not on the number of trees planted, or the number added, but on the percentage of the city’s land mass protected by tree canopy. Article content ABC Coun. Sarah Kirby-Yung said she understands the shift to focus on canopy percentage over tree numbers. But she asked staff whether the target of 30 per cent could be higher, or it could be achieved sooner than 2050, considering that canopy cover increased from 21 per cent in 2013 to 25 per cent in 2022. Article content Joe McLeod, Vancouver’s associate director of urban forestry, responded: “I think the last five per cent of this goal is going to be a lot harder.” Article content Article content “The cream has been skimmed off the top, so to speak,” McLeod said. “During the ‘greenest city’ decade, from 2010 to 2020, all the easiest, least inexpensive tree-planting spots were capitalized upon. And now we’re getting into the harder-to-reach areas. … It’s going to be trickier.” Article content Also, the city wants to prioritize adding trees to areas where the need is greatest. Article content During Vancouver’s June 2021 heat wave, vulnerable people living in areas with less forest canopy were at higher risk of death from heat-related illness, this week’s staff report says. Article content The report includes maps that reveal a stark divide between Vancouver’s cooler and leafier — and traditionally more affluent — west side, and the historically lower-income east side, which is hotter and has fewer trees — especially in and around the Downtown Eastside. Article content Tree planting by the City of Vancouver along East Hastings in one of the areas of Vancouver with the smallest tree canopy. Photo by City of Vancouver Article content A similar pattern plays out across the region. A 2021 analysis by Postmedia journalist Nathan Griffiths found that wealthier neighbourhoods were significantly cooler than their lower-income neighbours who were surrounded by more concrete and roads, and fewer trees. Article content Article content It can be more difficult — and expensive — to plant trees in these “very urbanized environments,” McLeod told council. Article content Removing pavement and excavating to create a new tree pit can cost as much as $20,000, he said. Article content “It is a costly endeavour, but it improves the public realm and obviously provides great benefits to the community.” Article content He cited the 700-block of East Hastings as an example where the city has recently been able to add several new trees to a tree-deficient area. Article content ABC Coun. Mike Klassen proposed directing staff to explore innovative ways to reduce urban heat islands in neighbourhoods with less tree canopy cover, including areas where it is challenging to grow trees. Article content Klassen’s proposal, which council supported, mentioned the example of “vegetated shade structures.” These are roughly four-metre-long sail-shaped awnings covered in vegetation, which are designed by a Spanish company and have been installed above urban streetscapes in Spain, England and Turkey. Article content Asked whether ABC’s 100,000-tree campaign promise was unrealistic, Klassen said: “I’ll never apologize for being ambitious.” Article content “I think all innovative solutions have to be brought to bear,” he said. “What’s our goal? Our goal is to create cooler conditions in the face of a changing climate, and we’re using whatever tools are at our disposal to achieve that.” Article content Article content Article content

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    TransLink to extend North Shore RapidBus route to Metrotown starting in 2027

    ByStan S.

    Currently, the R2 Marine Drive RapidBus is a west-east route serving the North Shore, running between Park Royal in West Vancouver and Phibbs bus exchange in the District of North Vancouver, with a key connection to the SeaBus terminal and Lonsdale bus exchange. Starting in 2027, TransLink will extend the R2 RapidBus from its existing easternmost terminus of Phibbs bus exchange to Burnaby. Its route will be extended southward, across the Ironworkers Memorial Bridge to provide transfer opportunities with two SkyTrain stations — Brentwood Town Centre Station on the Millennium Line and Metrotown Station, the RapidBus route’s new southern terminus, on the Expo Line. It will also connect with the R5 Hastings Street RapidBus, and provide a new way to reach the BCIT Burnaby campus. This expansion of the R2 service was made possible by a key decision earlier this month, following the endorsement by TransLink’s board and the Mayors’ Council of new measures to increase fares, parking taxes, and property taxes. These changes aim not only to avoid service cuts — offering an interim solution to the transit authority’s fiscal cliff — but also to expand and enhance transit services. In addition to the new revenue raised by TransLink, the provincial government has also committed to providing new interim operating funding of $312 million through 2027. Based on TransLink’s newly released ridership statistics, the existing R2 running between Park Royal and Phibbs bus exchange recorded 1.944 million boardings in 2024, with averages of 5,700 per weekday, 5,000 per Saturday, and 4,000 per Sunday/holiday. This is slightly down from 1.965 million in 2023, with averages of 5,800 per weekday, 5,050 per Saturday, and 4,100 per Sunday/holiday. Currently, the R2 is TransLink’s 42nd busiest bus route out of 195 across Metro Vancouver, and ranks fifth out of the six RapidBus routes. While the precise extended R2 route has yet to be finalized, after making its bridge crossing, the extended RapidBus is expected to run along Hastings Street to reach Willingdon Avenue for the remaining journey to Metrotown. There is already strong ridership demand on the corridor between Phibbs bus exchange and Metrotown via Ironworkers Memorial Bridge, Hastings Street, and Willingdon Avenue. In 2024, the No. 130 Metrotown Station/Phibbs Exchange bus route was TransLink’s 20th busiest, with 3.256 million annual boardings — averaging 10,200 on weekdays, 7,000 on Saturdays, and 5,200 on Sundays/holidays. This is up from 2023, when the route saw 3.181 million boardings, with daily averages of 10,000 on weekdays, 7,100 on Saturdays, and 5,300 on Sundays/holidays. The No. 222 Metrotown Station/Phibbs Exchange — the express bus equivalent of the No. 130, running on the same route with limited stops during peak hours only — recorded about 950,000 annual boardings in 2024, with averages of 3,800 per weekday. This is up from 912,000 in 2023 and 668,000 in 2022. Currently, it is TransLink’s 80th busiest bus route. During optimal traffic conditions without any issues on the bridge crossing, the end-to-end travel times for the No. 130 and No. 222 are currently about 35 minutes and 45 minutes, respectively, during peak hours. Similarly, the end-to-end travel time on the existing R2 within the North Shore is roughly 40 minutes. The funding decision earlier this month also enables TransLink to conduct detailed design and planning work to launch three new Bus Rapid Transit (BRT) lines. An initial public consultation for the King George Boulevard BRT and Langley-Haney Place BRT was conducted in early 2025. In Summer 2025, TransLink will launch a separate initial public consultation on upgrading the R2 RapidBus to a Bus Rapid Transit (BRT) standard, including an opportunity for input for the interim move of extending this RapidBus route to Metrotown. The proposed BRT standard includes dedicated bus-only lanes, traffic signal priority, and other transit-priority measures, along with enhanced passenger amenities such as specialized shelters resembling those found at Light Rail Transit stations. Another public consultation in Fall 2025 will focus on the road design changes to support the King George Boulevard BRT and Langley-Haney Place BRT. TransLink is also expected to consider longer-term rapid transit solutions such as Light Rail Transit and SkyTrain for the route between the North Shore and Metrotown. To better support the R2 RapidBus/BRT and other new and improved bus services, TransLink is also in the process of considering a major expansion and redesign of the bus exchange at Metrotown Station to “potentially increase bus service capacity as our system expands in the coming years.”

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    Rent-to-Own: Can This Alternative Path Help You Buy a Home?

    ByStan S.

    Struggling to Qualify for a Mortgage? You’re Not Alone Buying a home isn’t always easy—especially if your credit score needs improvement, you’re self-employed with fluctuating income, or you haven’t saved enough for a down payment. Traditional mortgage lenders often have strict requirements, making homeownership feel out of reach for many. But what if there was…

  • Buying and Selling in Sync: The Ultimate Moving Timeline Checklist

    ByStan S.

    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…

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    B.C. housing supply way up amid economic uncertainty

    ByStan S.

    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

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    Spring slowdown for Metro Vancouver home sales drags on despite ‘abundant’ listings

    ByStan S.

    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 

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    116 Rental Units Planned for Telus Site in East Vancouver

    ByStan S.

    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