APRIL 2026 FOUNDER’S MESSAGE – Spring is in a Full Swing

Blossoms are in full bloom this month as we enjoy the beauty of spring on the West Coast. Metro Vancouver’s real estate market is activewith a lot of excellent inventory to choose from.

There were 5,792 new listings on the market in Metro Vancouver in February, up 4.9% above the 10-year seasonal average. The total number of properties currently listed for sale on the Multiple Listing Service (MLS) is 14,774. This is 38% higher than the 10-year seasonal average.

The Greater Vancouver Realtors (GVR) reports the composite benchmark price for all types of residential properties is $1,104,300, 0.4% higher than February 2026.

Andrew Lis, GVR chief economist and vice-president of data analytics, recently reported that prices are not moving significantly in either direction. Interest rates also remained steady last month as the Bank of Canada held its overnight lending rate at 2.25%.

There are important new GST rules for first-time home buyers in Canada. New legislation passed last month can translate into significant savings for first-time buyers purchasing newly constructed homes. The First-Time Home Buyers’ (FTHB) GST/HST rebate eliminates the GST (or federal part of the HST) for first-time home buyers on a new home valued up to $1 million. The rebate is gradually reduced on new homes worth $1 million to $1.5 million. There is no rebate for homes valued at $1.5 million or more. The rebate only applies to new homes, not resale properties and the most significant benefit is seen at the $1 million price point and below.

This new incentive from the federal government offers great opportunities for first-time buyers. For new homes valued up to $1 million, the rebate covers 100% of the GST paid, up to a maximum of $50,000. This is a major improvement from the previous GST New Housing Rebate, which capped savings at approximately $6,300. Bill C-4 applies to new builds as well as substantial renovations used as a primary residence.

First-time buyers, who purchase a home from a builder, can have the rebate credited at closing, with the amount applied against the final purchase price. Applications are starting to be processed this spring. Now is an excellent time to call one of our knowledgeable VIRANI advisors to learn more about this new rebate that will create meaningful opportunities for first-time buyers entering the market.

Whether you’re downsizing, upsizing or searching for your new dream home or investment property, April is an excellent time to contact one of our expert VIRANI advisors to help you with all your real estate needs. Spring is typically the busiest season in real estate and we’re seeing the market heating up.

Recently, there has been notable progress made with several developments across Metro Vancouver. Pinnacle International recently submitted a new rezoning application for its property located immediately east of the Granville Street Bridge in downtown Vancouver. It’s proposing to significantly increase vertical density with a 650-foot tall building with 67 storeys, making it the second-tallest building within the city of Vancouver if built today. The developer is also proposing to introduce additional significant uses, including a major hotel.

Vancouver City Hall is currently updating its policy on very tall buildings, potentially opening the door for future skyscrapers in the city. The City of Vancouver plans to seek public feedback in the coming weeks on revisions to its long-standing policy on very tall buildings. Their goal is to complete their work next year to potentially set the stage for more “supertalls.”

Vancouver developer Holborn is proposing to transform the downtown skyline with a trio of skyscrapers between 63 and 79 storeys. The development would transform nearly two entire downtown blocks and include 1,288 condos, 273 rental homes, 920 hotel rooms and commercial space at street level.

Metro Vancouver’s rental market continues to be very busy. Now is an ideal time to call one of our expert RENT + MANAGE advisors to receive a rental evaluation on your property. We offer a full spectrum of exceptional property and tenant placement services to keep your property at is best value so you’ll get the best return.

Have VIRANI manage your most valuable asset and experience the reasons why we’ve become Vancouver’s top rental management company. We will help you maximize your property’s potential with a qualified tenant, while remaining exempt from the municipal’s Empty Homes Tax.

Excitement is building this month across our city and the entire globe as Vancouver prepares to host the FIFA World Cup 2026. With 104 games in the spectacular 48-team tournament, our city will be hosting the biggest-ever FIFA World Cup in less than 100 days. As the host city, Vancouver is preparing to welcome 350,000 fans from June 11 to July 19 to seven matches played at B.C. Place Stadium.  

Vancouver is a world-class destination where major sporting events are played and incredible outdoor recreational opportunities are part of our active lifestyle. We’re considered the jewel of the world and we are proud to bring together an international community of sporting fans from around the world.

With this in mind, VIRANI is offering the opportunity to share in the excitement and win two FIFA World Cup tickets to match six in Vancouver. Sign up to the V List at virani.ca, where VIP clients can enter to win tickets to see Australia vs Turkiye on June 13.  Subscribing to the V List also gives you exceptional long-term advantages such as early access to pre-sales, exclusive events, special reports and market insights, as well as a subscription to our V List magazine.

Spring is in full swing here on the West Coast. I wish you a wonderful season filled with warm weather and the beauty of cherry blossoms that grace our city streets and parks. Interest rates and prices remain steady and there are many outstanding real estate opportunities for buyers, sellers, investors and developers in Metro Vancouver’s current market. This month also marks a new legislative milestone that is bringing first-time home buyers closer than ever before to securing substantial tax relief on newly built homes.

As we get ready to welcome the world to our doorstep, I hope you are able to consider your individual real estate goals and prepare for the exciting months ahead.