Real Estate News & Articles

2800-square-foot development site sells $2.45million below assessed value

2020-09-10

Chinatown development site sells below assessed value Avison Young Western Investor Property type: Development site Location: 275 East Pender Street, Vancouver Property size: 2,800 square feet In acres: 0.70 acres Zoning: HA-1 Potential: FS…

Federal government mandates rental extension

2020-09-09

CECRA extended for the last time Ephraim Vecina Canadian Real Estate Wealth The Liberal administration will be extending its pandemic fiscal assistance program for small businesses to help beleaguered ventures cover September rent costs. In…

Rents extends ban on small business eviction, Ontario government

2020-09-09

Ontario government extends ban on small business evictions Ephraim Vecina Canadian Real Estate Wealth The Ontario government has announced the extension of its ban on small business evictions, which expired on Aug. 31. The policy was put in…

Canadians have around 500,000 mortgage on payment deferral with the Big Six

2020-09-09

Canadians have more than 500,000 payment deferrals with the Big Six Ephraim Vecina Canadian Real Estate Wealth At the Big Six banks alone, Canadians have around 510,530 mortgages on payment deferral as of the quarter ending July 31, falling…

Canadian housing market price increases faster than anyone predicted

2020-09-09

Home price increases: A temporary shock for Canadian buyers? Kasi Johnston Mortgage Broker News The Canadian real estate market is recovering much faster than anyone predicted. The average price of a Canadian resale home in June was $539,00…

BC Housing market still strong even with Pandemic

2020-09-09

"The Unusual World of Pandemic Economics? ? Why BC?s Housing Market Remains Strong Despite COVID-19 Brendon Ogmundson BCREA Vancouver, BC – September 9, 2020 . The British Columbia Real Estate Association’s (BCREA) latest Market…

Federal government extending Canada Emergency Commercial Rent Assistance (CECRA) rent for one month

2020-09-08

Commercial rent relief extended one month Emma Crawford Hempel Western Investor The federal government is extending the Canada Emergency Commercial Rent Assistance program for small businesses by one month.   The federal government ann…

Dr. Bonnie Henry issued effective immediately liquor ban 10 p.m onwards and nightclubs close

2020-09-08

Dr. Bonnie Henry issues last call for nightclubs WI Staff Western Investor B.C. Provincial Health Officer Dr. Bonnie Henry announced that, effective immediately, all liquor sales in bars must end by 10 p.m., and all nightclubs must close &n…

Landlords are allowed to raise rents up to 1.4 percent starting December 2020, B.C

2020-09-08

B.C. rents can rise just 1.4 per cent after freeze ends Glen Korstrom Western Investor Residential rental rate freeze ends in December but landlords will have to keep rental increases at low level into next year, province says The B.C. gove…

Arrears might go high as 0.53% in Q2 2021 if mortgage payment deferral aren?t extended- analyst

2020-09-08

Arrears rate might double without deferral extension ? analysts Ephraim Vecina Mortgage Broker News Canada’s arrears rate might double to a level higher than that seen during the Great Financial Crisis if mortgage payment deferrals ar…

Covid-19 heading Canada to a recession, painting worst case scenario- wealth manager

2020-09-08

Current recession exceeds BoC's worst-case scenario ? wealth manager Ephraim Vecina Mortgage Broker News

Covid-19 heading Canada to a recession, painting worst case scenario- wealth manager

2020-09-08

Current recession exceeds BoC's worst-case scenario ? wealth manager Ephraim Vecina Mortgage Broker News This year, Canada has entered a recession that is at least as bad as the worst-case scenario predicted by the central bank last year, a…

Vancouver city council approve the rezoning application of a 28 storey rental tower

2020-09-06

Vancouver real estate: city staff note to developer seen to suggest land lift for controversial Broadway rental tower Carlito Pablo The Georgia Straight On July 21 this year, Vancouver city council cast a close 6-5 vote to approve a rezonin…

Industrial property in Prince Albert, Saskatchewan sells for $4 million

2020-09-05

Prince Albert self-storage property sells for $4 million NAI Commercial Western Investor Type of property: industrial Location: RR2 Site 4, Comp 121, Prince Albert, Saskatchewan Number of units: 298 Property size: 41,890 square feet Land si…

5 storey luxury commercial complex sells for $55 million, New Kelowna

2020-09-02

New Kelowna multi-family complex sells for $55 million Marcus and Millichap Western Investor   The new five-storey, 175-unit purpose-built luxury rental complex in Kelowna, B.C.'s, Glenmore area was sold upon completion to Toronto-base…

Nearly 10 acres sells for $64.5 million, Delta B.C

2020-08-31

Delta?s Trenant Park Square sells for $64.5 million JLL Canada Western Investor

Trump International Hotel Management firm, has declared bankruptcy

2020-08-29

Trump hotel management firm files for bankruptcy Glen Korstrom Western Investor The company that operates the Trump International Hotel & Tower Vancouver, TA Hotel Management Limited Partnership, has declared bankruptcy, according …

Vancouver?s Trump Hotel has permanently closed

2020-08-29

Vancouver's Trump hotel closes doors for good Joanne Lee-Young The Vancouver Sun

Vancouver's Trump Hotel has permanently closed

2020-08-29

Vancouver's Trump hotel closes doors for good Joanne Lee-Young The Vancouver Sun A staff member answering phones at the Trump-branded hotel on Friday told Postmedia that the hotel was "closed for good. The Trump International Hotel and Towe…

7 Tips for Sellers can Make their home more enticing

2020-08-28

7 Ways Sellers Can Up Their Home's "Screen Appeal" Justin Kerby The Vancouver Sun

CMHC providing a low cost rental construction projects valued at $1m and higher

2020-08-28

CMHC to fund rental construction projects valued at $1m and higher Ephraim Vecina Mortgage Broker News The Canada Mortgage and Housing Corporation announced that it will be providing rental construction financing, with the goal of improving…

Port Moddy 14 Hectares site will have 1400 Condos

2020-08-26

Flavelle sawmill on historic Port Moody site to be shuttered by end of October Derrick Penner The Vancouver Sun A sawmill has operated on the Flavelle mills site since 1905, but its owner cites "disproportionately high municipal property ta…

20 Storey Rental building nixed by City of Vancouver

2020-08-26

Shining a light on Vancouver's shadow debate Dan Fumano The Vancouver Sun Opinion: Of course, nobody wants to live in permanent darkness. Meanwhile, most people agree Vancouver needs more rental homes. Balancing those pieces isn't easy. How…

Analyst see a housing inventory surge once payment deferrals end

2020-08-26

Housing inventory could swell when deferral period ends ? analysis Ephraim Vecina Mortgage Broker News A housing inventory surge will likely precede a predicted arrears spike once payment deferrals end, according to a Better Dwelling analys…