With interest rates easing, some condos in Metro Vancouver are now cheaper to buy than to rent, according to real estate data firm Zonda Urban.
Just two years ago, buying cost nearly double what renting did. But with lower mortgage rates and slight price adjustments, the numbers are shifting. In some developments, like The City of Lougheed in Burnaby, mortgage payments are now less than monthly rent for similar units.
Experts suggest that if buyers can manage the down payment and strata fees, now could be a good time to explore ownership — especially as rents begin to level off with more purpose-built rentals coming online.
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