“30% is the average vacancy rate in a couple of dozen towers in Yaletown.”

The rental market is softening in Vancouver, with both more vacancies and lower rents. These anecdotes from a thread at RETalks, 2009 Apr 03 -

wtm notes: “Very interesting developments these days west of Denman in the west end. Normally at this time of year, i.e., start of the summer, very few vacancies are posted. Take a walk in the this hood tomorrow — I saw close to TWO DOZEN vacancy signs today — studios, one bedrooms, two bedrooms, even a 3 bedroom place. Either tenants becoming owners or people leaving the city because they lost their jobs? I have lived down here off and on for 10 years — I have NEVER seen this many vacancies in this neighbourhood.”

Strataman adds some first hand information: “I am exposed to well over 2000 rentals in YALETOWN as a service company for the strata corps. The rents are dropping and have dropped substantially. 30 % is the average vacancy rate in a couple of dozen towers in Yaletown.”

kansai_92 reports: “I’m starting to see vacancy signs around the Broadway/Cambie corridor now. These are older rental stock. One of my colleagues live in one and his rent is an amazing $775/month for around 750sf. He’s surprised to see vacancies popping up as well.”