Burnaby Breaks Ground on Largest BC Builds Rental Project as Metro Vancouver One-Bedroom Rents Continue to Decline
🏗️ Burnaby Breaks Ground on Largest BC Builds Rental Project as Metro Vancouver One-Bedroom Rents Continue to Decline 📉
A major rental housing development is underway in Burnaby's Edmonds neighbourhood, marking the largest BC Builds project to date.
🏢 Project Highlights:
480 purpose-built rental homes
384 market-rate units and 96 below-market units
50-storey residential tower
Expected completion: Fall 2030
📊 Metro Vancouver Rental Market Update | October 2026
According to rental market data:
Metro Vancouver: Average one-bedroom rent fell 6.3% year-over-year to $2,083/month.
Richmond: One-bedroom rents dropped 16.6% year-over-year to $1,943/month.
Vancouver: Two-bedroom rents bucked the trend, rising 5.2% year-over-year to $3,125/month.
💡 Panda Luxury Homes | Market Insight
The rental market is showing a clear divergence. One-bedroom rents continue to soften, while demand and pricing for larger, family-oriented rental units remain relatively resilient.
For property investors and homeowners, this highlights the importance of evaluating rental income, investment returns, and pricing strategies by property type rather than relying solely on overall market averages.
At Panda Luxury Homes, we closely follow Metro Vancouver's evolving rental market to help property owners make informed leasing and investment decisions.
🌐 www.pandaluxuryhomes.com
Data sources: CoStar News and liv.rent | Market commentary: Panda Luxury Homes
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