Apartment for rent sign in front of a building.

An already expensive rental market is now even pricier!

Rentals.ca has released its most recent rental report, and it confirms what many Victorians already know – rental prices in Victoria have jumped substantially, with rates up nearly 20 per cent for both one- and two-bedroom suites from November 2020. This means for a one bedroom, renters will be paying an extra $302 per month and an extra $374 per month for a two bedroom. This works out to a year-long lease costing an additional $3,624 or $4,488, respectively. The average rent in British Columbia is the highest in the country at $2,184 per month in October 2021.

The city’s rental crunch eased slightly last year due to the pandemic with fewer tourists and university students coming to Victoria, but with travel restrictions lifted and in-person classes resuming, availability has once again plummeted.

At TLA Developments, we strive to keep our project pricing attainable so homeownership can be a reality for more people. If you’re looking to get out of the rental market and into your own home, consider Skyeview in the heart of View Royal. Visit Skyeview.ca for more information.


Developer donates two single-family Esquimalt homes to the Songhees Nation

Two single-family residential homes will be upcycled and will continue to be enjoyed by two deserving families from the Songhees Nation.

Read More

Plants Find New Homes in Esquimalt Neighbourhood

TLA invites neighbours to participate in a “Take Your Plant” event, where those neighbours could come and harvest the plants and shrubbery from the Sterling site in order to rehome them in their own backyards.

Read More