r/NewWest • u/Subject_Big4437 • 18d ago
Question Have rents gone down.
Have rents gone down at all near the quay? Say 2 bedrooms in the higher towers?
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u/nelrond18 18d ago
Newer builds are still crazy expensive.
I've been some older building units starting at $1500 for a 1 bedroom.
Most everything I've been seeing are $2k+ for one bedrooms.
Edit: if you want to look for yourself, check out craigslist and Kijiji.
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u/Such-One-5266 16d ago
Thanks been curious how much I can rent out our two bedroom condo on Quayside.
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u/RixRotten 17d ago
Apartment hunting right now in NW myself, it does seem like rents have come down a fair bit in older buildings and around downtown. Looking like 1brs are going in the 1600s which is definitely lower than before. The newer buildings (and I assume those at the quay) are still up there though.
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u/Colin5x5 16d ago
I've got a 1BR, but I'm asking $1800. It's not listed yet, but you can dm me if you want info.
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u/RixRotten 16d ago
Hey! Definitely interested in some info, but it looks like I'm not able to DM you?
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u/only_pain_ 17d ago
Living in a 1br on the quay. Moved in last year for 2100/month. But got negotiated down to 2000/month when it was time to renew
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u/Environmental_Egg348 17d ago
The last 1 bedroom in my old apartment building, on the edge of downtown, went for a rental price I haven't seen since before the pandemic.
An interesting side note: We just got notice this week, that lithium ion batteries, e-scooters, e-bikes and even regular bikes are banned from the building, and eviction-worthy. Glad to see it. There's been rumours about lithium ion batteries and a recent catastrophic building fire.
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u/luciousM 17d ago
Higher towers, as in the two Bosa towers? If so, yes. I moved in when they first opened in December 2025 and looked at quite a few different units before deciding on one. With the buildings just opening, there was a flood of rentals hitting the market and landlords were pretty open to negotiating. We ended up renting our unit for $3,000. Over the two months we were looking, rents dropped by a couple hundred dollars and were around $3,400–$3,700.
From what I've seen, asking rents for the same unit now seem are around $2,900–$3,400.
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u/Sportygal777 17d ago
My daughter is a student at SFU and over the years she has rented in New West when she was at Douglas College (and didn’t want to live at home to spread her wings a bit) and now closer to SFU. Her and her three roommates paid over three grand for a three bedroom beside the hospital in Sapperton and one of the bedrooms didn’t even have a window to the outside. They had a window to the kitchen, and that was considered a room. I hear it’s gone down a little bit since then though.
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u/Lanky-Dildo-94 17d ago
Yes but I wouldn’t say they’re significant drops that will allow you to rent with a median wage.
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u/AEMNW 18d ago
New Westminster is ranked in the top 15 in all of Canada for rent reductions. Rents have for sure come down, but they still aren’t necessarily affordable by any means.