Real Estate News & Articles

Foreign buyers rush to beat B.C. implementation of new tax

2016-07-30

Real estate levy set to kick in Tuesday sparks panicked closure Jeff Lee The Vancouver Sun In January, Shinna Zhang and her husband moved to Metro Vancouver from London, England. They entered Canada on her husband’s work permit. Zhang…

A way to provide new homes to working families

2016-07-30

Bring back employee housing, architect urges Don Cayo The Vancouver Sun What if Vancouver were to suddenly get a lot of nice new homes, all of them available to working families for half the rent people pay to live in comparable properties …

Stay rich, even during a downturn

2016-07-29

Justin da Rosa Canadian Real Estate Wealth A leading investor shares his tips to on how to excel in a struggling real estate market. Real estate has its ups and downs, and Wayne Weum, an Edmonton-based investor, is currently experiencing th…

Canadian professionals? statements reflect Chinese fears over new tax

2016-07-29

Ephraim Vecina Canadian Real Estate Wealth In the wake of the B.C. government’s announcement of a new 15 per cent tax on foreign buyers of Canadian homes, real estate professionals have voiced vehement opposition, mirroring in many wa…

The domino effect of B.C.'s new foreign buyer's tax

2016-07-29

Ephraim Vecina Canadian Real Estate Wealth The B.C. government’s announcement on Monday (July 25) of a new 15 per cent foreign buyer’s tax will impact not only overseas purchasers of residential real estate, but Canadian citizen…

Vancouver?s 15% foreign buyer tax: Have your say

2016-07-29

Justin da Rosa Canadian Real Estate Wealth It may be one of the most divisive topics in recent memory and agents are, unsurprisingly, opinionated It’s about to become more expensive for foreign buyers to purchase real estate in Britis…

Foreigners buy $885M worth of Vancouver real estate in just 5 weeks - study

2016-07-29

Ephraim Vecina Canadian Real Estate Wealth According to fresh data collected by the British Columbia government and released last Tuesday (July 26), foreign buyers purchased over $885 million worth of real estate in Metro Vancouver in the p…

BC government passes foreign buyer tax; ignores calls to exempt signed contracts

2016-07-29

REBGV other The BC legislature passed legislation last night that institutes the foreign buyer tax. The legislation will take effect August 2, adding a 15 per cent surcharge to the Property Transfer Tax (PTT) for non-Canadian buyers. The ta…

Tax on foreign homebuyers expected to boost lenders

2016-07-28

New B.C. tax on foreign homebuyers will help Canadian banks: Moody?s ? BARBARA SHECTER The Vancouver Sun The B.C. government’s move to slap a 15 per cent tax on foreign homebuyers in Vancouver is positive for the country’s bigge…

New Metro Vancouver property transfer tax could affect outlying areas

2016-07-28

Municipalities outside of Metro Vancouver will be watching closely to see if the new foreign buyers? transfer tax announced this week will affect housing markets in their communities Jennifer Saltman The Vancouver Sun On Monday, the provinc…

Hillside West Concord Brentwood 4756 Lougheed Highway Burnaby 426 homes in a 45 storey tower by Concord Pacific Developments

2016-07-28

PHASE 1 SOLD OUT: Earthy tones, playful elements on display at Concord Brentwood Mary Frances Hill The Province Concord Brentwood Where: 4756 Lougheed Highway, Burnaby What: A total of 10 highrise towers, between 40 and 50 storeys. The firs…

B.C. premier rules out changes or presale exemptions to foreign buyer tax

2016-07-28

B.C. ?not amending? real estate fee Rob Shaw The Province B.C.’s Liberal government has stood firm despite a barrage of criticism from developers and real estate agents over its foreign buyer tax, admitting Wednesday it expects&n…

Top Vancouver realtor rapped for trying to avoid new 15% property transfer tax

2016-07-28

NEW LAW: Real Estate Council of B.C. investigating agent Mike Stewart after email sent to clients Tuesday Jeff Lee The Province A top-selling real estate agent in Vancouver who sent an email advertising how to circumvent the new foreign pur…

B.C. realtors voice unease over new foreign-buyer tax

2016-07-28

Frances Bula and Wendy Stueck The Globe and Mail Published Thursday, Jul. 28, 2016 A new tax on real estate purchased by foreign buyers has set off shock waves through the B.C. real estate sector, sending clients and realtors scrambling to …

Vancouver housing market sees risk rating jump to 'high': CMHC

2016-07-27

Canada's national housing agency says evidence of problematic conditions in the country's real estate market as a whole has risen from weak to moderate, with Vancouver's risk rating boosted to high. The Vancouver Sun TORONTO — Ca…

Foreign buyers in Metro Vancouver twice as high as previously thought

2016-07-27

Rob Shaw The Province The number of foreign purchases in Metro Vancouver’s housing market is twice as high as previously thought, according to new numbers released Tuesday by the government. The figures released by…

Condo 'presales' could be left in chaos by new B.C. tax, industry warns

2016-07-27

Susan Lazaruk & Rob Shaw The Province B.C.’s new tax for foreign buyers could end up causing a “huge mess” that hurts Canadian property owners if the province doesn’t exempt soon-to-close contracts and condo &ld…

Lenders prepare for 50 per cent correction in Vancouver prices

2016-07-27

Steve Randall Mortgage Broker News It’s unlikely to happen, but some of Canada’s largest mortgage lenders have been told to prepare for some seriously scary drops in home prices. The Office of the Superintendent of Financial Ins…

Sun commercial and Ex realtor Julia LAU being investigated in a $500M scandal

2016-07-27

Chinese tycoon allegedly at the centre of $0.5B in B.C property deals Ephraim Vecina Mortgage Broker News   A Chinese property tycoon who supposedly left the mainland in connection with a banking scandal (involving allegedly irregular …

How to help census staff

2016-07-27

COMPLICATIONS: Strata owners expect security and privacy ? Tony Gioventu other Dear Tony: Our strata corporation has been contacted by census staff requesting access to our building. We have been advised that we have no choice and the law r…

CMHC releases third quarter Housing Market Assessment

2016-07-27

Justin da Rosa Canadian Real Estate Wealth The Crown Corporation reports an increase in worrying conditions in Canada’s housing market, and rings the warning bell for overvaluation in many cities. “For Canada overall, we now det…

Local homeowners sleeping on lottery ticket

2016-07-27

Wayne Moriarty The Province The way things are going, it wouldn’t surprise me if “Bob, who owns a double lot on 14th and Crown” makes the 2017 Forbes list of the world’s wealthiest people. Just don’t tell Bob t…

Clarification on the foreign buyer tax

2016-07-26

additional Property Transfer Tax on Residential Property Transfers to Foreign Entities in the Greater Vancouver Regional district other Download Document

B.C. adds 15 percent foreign buyers tax to insulate Metro real estate

2016-07-26

Premier unveils foreign buyers tax on Metro Vancouver real estate ? ROB SHAW The Vancouver Sun A foreign buyers tax introduced in a surprise move by the B.C. Liberal government on Monday may cool the high end of Metro Vancouver’s red …