Despite reports to the contrary, a recent report created in part by the City of Vancouver, finds that most housing types in the city have yet to be sold to absentee landlords.
A report by Vancouver city staff and software company Ecotagious Inc. have found the rate of unoccupied homes in Vancouver to be in in line with other big cities, and flat since 2002, according to an article in The Globe and Mail. The number of unoccupied units is still growing, however, due to growth in the overall supply of the city's housing. Condos are by far the most commonly unoccupied form of housing in the city—reaching 12.5 percent unoccupied in 2015.
Vancouver is perhaps the most famous example of an expensive city where the housing woes are blamed on the effects of foreign investors—speculating on real estate but not occupying it, and gobbling up supply from local residents. The condo market in Vancouver has also been hot for a long time.
FULL STORY: Vancouver’s vacant homes in line with other cities, but condos most likely empty
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