At last count, in downtown Victoria alone more than 875 units are either planned, under construction or in the approval process.
The delivery of new, purpose-built units is a significant dynamic that is starting to impact our apartment rental market. Developers are seizing the opportunity to construct new, more upscale units to satisfy market demand from local tenants looking to upgrade their accommodation from the approximately 85 percent of purpose-built 1960s and 70s rental stock.
As a result, existing landlords of older properties, will need to make as many upgrades to their buildings as economically feasible.
For a list of planned, under construction and approved rental buildings, please click on the link below.
www.victoria.citified.ca/rentals/
Nicolas Belisle
Property Manager JONESco Real Estate Inc
778-433-9908
Nicolas@JONEScoPM.com
www.JONEScoPM.com
#201-648 Herald Street
Victoria Bc V8W 1S7
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