Van­cou­ver rentals 44th prici­est in world: Study

The Province - - NEWS - SU­SAN LAZARUK

Rents for one-bed­room apart­ments in the Van­cou­ver area are the prici­est in Canada, but they’re not any­where close to the most ex­pen­sive in the world.

An in­ter­na­tional study of 100 cities by Nest­pick, a meta search en­gine, ranks Van­cou­ver with the 44th high­est rents in the world.

But $914 for a small one bed­room Nest­pick says is typ­i­cal for a suite be­tween 420 and 485 square feet will likely be hard to find.

That was at least $100 lower than av­er­age rents pub­lished by the Canada Mort­gage and Hous­ing Corp. in its lat­est re­port, from Oc­to­ber 2016, for Metro Van­cou­ver apart­ments: From $1,013 for a stu­dio and $1,159 for a one bed­room.

The 2017 num­bers, which will likely be higher, are ex­pected in two weeks, ac­cord­ing to a CMHC spokes­woman.

The Nest­pick study did show rents for un­fur­nished two- or three-bed­room apart­ments, 800 to 1,300 square feet, in Metro Van­cou­ver, at $1,768.

And that was higher than an av­er­age two-bed­room in Metro Van­cou­ver in CMHC’s Oc­to­ber 2016 re­port, where a twoto three- bed­room was $1,450 to $1,631.

“The rank­ing of Van­cou­ver some­where in the mid­dle (glob­ally) is about right,” said UBC so­ci­ol­ogy Prof. Nathan Lauster, au­thor of The Death and Life of the Sin­gle Fam­ily House.

But he said the rents for all size rentals by sim­i­lar ser­vices are “sig­nif­i­cantly higher” than those pro­vided by Nest­pick and he said its num­bers weren’t “cred­i­ble.”

For in­stance, num­beo.com, which re­lies on crowd­sourc­ing, puts one-bed­room rents from $1,367 to $1,825, and three-bed­rooms at $2,529 to $3,688; and Louie Dinh, a free­lance data sci­en­tist who runs Quan­ti­ta­tive Rhetoric, pegged rents in Van­cou­ver only at $1,600 for a stu­dio, $1,950 for a one-bed­room and $2,950 for a three-bed­room us­ing Oc­to­ber on­line list­ings.

Nest­pick, a rent ag­gre­ga­tor de­signed to pro­vide ex­pats and in­ter­na­tional stu­dents a com­par­i­son of rental costs world­wide, said in the study its av­er­ages may be lower than ac­tual rents in some cities be­cause Nest­pick searched a wider area than just a city’s core.

GERRY KAHRMANN/PNG FILES

It’s not easy to find an af­ford­able onebed­room apart­ment in Van­cou­ver, but a new re­port says many in­ter­na­tional cities are worse.

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