Therefore,
Vancouver always most expensive rents:
Vancouver is still the metropolitan region in which rents are the most expensive in Canada. For example, according to new data from Statistics Canada, even if prices have dropped since last year. In addition, Victoria is positioned as the third most expensive city in the country, behind Toronto.
The average rent for a two -room apartment in the Grand Vancouver was $ 3170 in the first quarter of 2025. Similarly, a drop of more than $ 250 since the previous year.
Toronto. Therefore, Victoria display similar rents, around $ 2,690, and Montreal is in the 17the Place with rents around $ 1900 for a two -room apartment.
The individual rooms in the Grand Vancouver exceed $ 1000 in rent and remain below $ 900 for Nanaimo and Kamloops.
Andrew Johnson, resident of Vancouver, pays $ 3000 for a two bedrooms of 60 m2 to yaletown.
It’s absurd. It’s completely excessive. You look at places like Alberta where you can get much more for much less
he said.
Andrew Johnson. resident of Vancouver, says he lived in Coquitlam for 4 years before their former owner decides to sell the accommodation. He explains that this move resulted in a 50 % increase in its rent.
Photo : Radio-Canada
Prices have been falling since the start of the year – Vancouver always most expensive rents
Tsur Somerville. professor at the Sauder School of Business at the University of British Columbia, explains that rents tend to drop throughout Canada.
The history of the rental markets in Canada is really this explosion of rents from 2021 to 2023. and we are starting to observe a relaxation in the past year.
The average requested rent for two -bedroom accommodation in Vancouver began to increase at the start of vancouver always most expensive rents 2021 to a summit of $ 3. 580 in the third quarter of 2023.
There was then a decrease of 7.8 % between the first quarter of 2024 and that of 2025.
For Tsur Somerville, the presence of Victoria in third position is explained by the lack of new constructions.
Victoria is a place where it was notoriously difficult to build housing. You will therefore always have a problem if you have demand without having the capacity to quickly increase the offer.
On the other hand. Quebec knows the highest increase, which is explained by a long period without price increase, according to Tsur Somerville.
For example. in Drummondville, Center-du-Québec, prices have doubled since 2019, going from $ 600 on average for a two bedrooms, to $ 1,200
Tsur Somerville reports on restrictions on the entrances to temporary foreign workers and international students, reducing demand. It also mentions the significant low -cost federal funding for rental buildings since 2020.
We have noticed a problem on the condominium market where many studios. small units were built because this is what investors wanted to buy, because it was cheap, but that’s not what people wanted to live in.
With information from Corentin Mittet-Magnan
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