{"id":26230,"date":"2025-08-07T10:10:16","date_gmt":"2025-08-07T17:10:16","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=26230"},"modified":"2025-08-06T13:19:33","modified_gmt":"2025-08-06T20:19:33","slug":"tariff-uncertainty-lower-immigration-investor-retreat-among-factors-in-vancouver-condo-market","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2025\/08\/tariff-uncertainty-lower-immigration-investor-retreat-among-factors-in-vancouver-condo-market\/","title":{"rendered":"Tariff Uncertainty, Lower Immigration, investor Retreat Among Factors in Vancouver Condo Market"},"content":{"rendered":"<p style=\"text-align: justify;\">Condo prices in Vancouver fell 8% in June 2025 compared with the same month a year ago, while detached homes and townhouses saw price increases, according to online real estate brokerage Wahi Realty Inc.<\/p>\n<p style=\"text-align: justify;\">There was a 1% price increase for detached homes and a 10% increase for townhouses, but the condo segment pulled down Wahi\u2019s price index for Vancouver to an overall 4% decline, the company told BIV.<\/p>\n<p style=\"text-align: justify;\">While 10 major Canadian markets saw prices climb in June, just three big cities\u2014Vancouver, Toronto and Hamilton\u2014saw overall declines, according to Wahi. It partners with appraisal firm RPS Real Property Solutions Inc. to publish the monthly index.<\/p>\n<p style=\"text-align: justify;\">\u201cHamilton is a story of steel tariffs. Toronto and Vancouver are a story of how these condos are really dragging down the average, whereas it doesn\u2019t look so bad for detached, traditional family homes,\u201d said RPS-Wahi economist Ryan McLaughlin.<\/p>\n<p style=\"text-align: justify;\">It\u2019s a case of bad timing, he said, with many new condo projects completing just as demand weakens due to tariff uncertainty and federal immigration curbs. He said many condo projects, heavy on studios and one-bedrooms, were started circa 2021 when interest rates were low and prices were shooting up.<\/p>\n<p style=\"text-align: justify;\">\u201cNow we\u2019re starting to see them come out the other end of the pipeline,\u201d McLaughlin said.<\/p>\n<p style=\"text-align: justify;\">\u201cCompletions are quite strong in BC at the moment, they are actually pretty high compared to historical norms, but unfortunately this is happening at the moment when demand is a bit softer,\u201d he said.<\/p>\n<p style=\"text-align: justify;\">There were 3,031 apartment completions in Vancouver in June 2025, compared with 1,698 in June 2024, according to Canada Mortgage and Housing Corp. data.<\/p>\n<p style=\"text-align: justify;\">Another report also shows a drop in Vancouver condo prices.<\/p>\n<p style=\"text-align: justify;\">Century 21 Canada LP released the results of its annual \u201cPrice Per Square Foot\u201d survey on Monday. It revealed that downtown Vancouver condos declined from $1,264 per square foot in the first half of 2024 to $1,206 in the first half of 2025\u2013a 4.59% decrease.<\/p>\n<p style=\"text-align: justify;\">Detached homes in Vancouver declined from $890 to $860 per square foot over the same period, representing a 3.37% decrease, the July 28 report said.<\/p>\n<p style=\"text-align: justify;\">Todd Shyiak, an executive vice-president at Century 21 Canada, said condo prices remain significantly elevated compared with pre-pandemic levels.<\/p>\n<p style=\"text-align: justify;\">\u201cRight now condos in Vancouver, surprising me even, they\u2019ve held up fairly well. There\u2019s still a lot of condos to come on stream here in the next six, eight, 10 months that may change that equation, but right now they\u2019re holding up remarkably well ..\u2026 compared to Toronto, certainly,\u201d he said.<\/p>\n<p style=\"text-align: justify;\">Shyiak said for many years, developers in downtown Vancouver and Toronto focused on building small units for investors. He said price and interest rate escalations since COVID-19 have made some of these investments unprofitable.<\/p>\n<p style=\"text-align: justify;\">\u201cAll of a sudden you can\u2019t buy a 500-square-foot condo and rent it out to a waiter anymore, because the cost for rent would be extraordinarily high,\u201d he said.<\/p>\n<p style=\"text-align: justify;\">\u201cYou\u2019re underwater every month, and those investors that were buying these micro-units are pulling back from their investments,\u201d he said, adding that some are forfeiting deposits.<\/p>\n<p style=\"text-align: justify;\">\u201cIt\u2019s going to take months and months to absorb that inventory,\u201d he said.<\/p>\n<p style=\"text-align: justify;\">Shyiak called tariff uncertainty the biggest challenge, but expressed hope that the US-Canada trade dispute will soon resolve, citing recent US tariff deals with the European Union, Japan and the UK.<\/p>\n<p style=\"text-align: justify;\">In the meantime, he said buyers will make low-ball offers and seek bargains, while sellers, after they\u2019ve sold, may try to do the same thing.<\/p>\n<p style=\"text-align: justify;\">\u201cWith months and months of inventory that we haven\u2019t seen for quite some time, there&#8217;s an opportunity for [sellers] to likewise win out at the other end, whether they are moving up or moving down,\u201d he said.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.biv.com\/news\/real-estate\/surge-in-new-condos-pushes-vancouver-housing-prices-down-overall-says-brokerage-11009470\" target=\"_blank\" rel=\"noopener\">Surge in New Condos Pushes Vancouver Housing Prices Down Overall<\/a> by Jami Makan | BIV<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Condo prices in Vancouver fell 8% in June 2025 compared with the same month a year ago, while detached homes and townhouses saw price increases, according to online real estate &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2025\/08\/tariff-uncertainty-lower-immigration-investor-retreat-among-factors-in-vancouver-condo-market\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,13],"tags":[],"class_list":["post-26230","post","type-post","status-publish","format-standard","hentry","category-market-updates","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tariff Uncertainty, Lower Immigration, investor Retreat Among Factors in Vancouver Condo Market &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2025\/08\/tariff-uncertainty-lower-immigration-investor-retreat-among-factors-in-vancouver-condo-market\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Tariff Uncertainty, Lower Immigration, investor Retreat Among Factors in Vancouver Condo Market &#8226; 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