The rent prices in real estate in Vancouver, in the British Columbia region have fallen considerably in the last couple of months. There has been a strong fall in the rent prices in this city.
The price per sq.feet in Vancouver has had a strong fall during the last 6 months. In September, the average price per sq.feet was $44.18. In the following month the price per sq.feet fell considerably to $4.3. The price for the following two months in (November, December) had a considerable fall of 19 with regard to the previous two months. The price per sq.feet has had a considerable fall of 31 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $14.38 to $4.52 during January, and February.
When referring to the price in Vancouver (cities), this has fallen considerably in the last 6 months. The average price for September is $3,309. During October the price had a considerable fall till $2,618. In the following two months the average price has hardly changed with regard to the previous two months from $2,963.5 to $3,022. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 87 %, going from $2,992.75 to $2,599.5 in January and February.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most expensive ones. At a price of $2,483 they are 6 % more expensive than the average price for Vancouver. Following this ranking we find those properties with 2 at an average price of $4,004. The properties with the highest average price have 4 bedrooms, Their price is 206 % more expensive than the average. After that we have properties with 3 bedrooms priced at $5,300.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most expensive ones at a cost of $4.63 / sq.feet, with an average $4.44 / sq.feet price in Vancouver. The properties with the most expensive average prices have 1 bedroom. They are 35 % more expensive than the average followed by properties with 2 bedrooms with a price at $5.46 / sq.feet.
The graph displaying the average rent prices displays the property type "Office" as the most affordable one. At an cost of $2,483 it is 20 % more affordable than the average price in Vancouver. "House" is seen as the second most affordable property type. The most expensive property type is "" followed by "Condo". At a price of $2,856 it is 108 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "House" at an average price of $2.12 / sq.feet followed by "Condo" priced at $5.12 / sq.feet. "Office" is the most expensive type of property with a $693 / sq.feet value followed by "Condo" with an average price of $5.12 / sq.feet.