Vancouver's soul-crushing real-estate market is now forcing renters to compete in bidding wars

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      With Vancouver’s vacancy rate for rental properties stuck at less than one percent for years now, the hunt for an apartment can be a soul-crushing experience.

      Now, the owner of a Kitsilano apartment has figured out how to make the struggle even more discouraging.

      On July 7, they’re holding a bidding war for their studio apartment near the intersection of Yew Street and West 3rd Avenue.

      A Craigslist ad suggests $799 a month rent for the 780-square-foot apartment. For anybody vaguely familiar with Vancouver’s crazy real-estate market, that price would immediately jump out at them as an unbelievably good deal.

      Which makes sense, because apparently it is not to be believed.

      Further down the ad, this text appears: “**Rent to be determined by winning bid** Open bidding will start Sunday July 7th 9am at the property. Please contact for info.”

      The suite is pet-friendly and even includes a private entrance and carport. Happy bidding.