Real Estate News & Articles

What's New in Speculation and Vacancy Tax

2019-12-17

Updates to speculation and vacancy tax information are posted here. other The speculation and vacancy tax website has been updated to: Clarify that spouses declare as individuals not as a partnership Clarify how the 10-year period applies i…

Westbank founder calls out Vancouver's "high level of mediocracy"

2019-12-16

Vancouver has attracted global wealth despite many of its buildings falling short of the wow factor Steve Randall Canadian Real Estate Wealth Vancouver has attracted global wealth despite many of its buildings falling short of the wow facto…

Middle-income renters to get supply boost in Langley

2019-12-16

A partnership between British Columbia and Century Group will see almost 100 rental homes built in Langley Steve Randall Canadian Real Estate Wealth A partnership between British Columbia and Century Group will see almost 100 rental homes b…

Vancouver's massive Squamish Nation development exempt from foreign-buyer tax

2019-12-16

Squamish Nation development doesn?t answer to the government Frank O'Brien Western Investor A December 10 vote among 827 members of the Squamish Nation has put in motion the largest residential development in Vancouver, which could include …

Canadian Home Sales and Prices Surge for 9th Month in a Row in November: CREA

2019-12-16

Canada?s housing market improved for the 9th month in a row in November Penelope Graham other Canada’s housing market improved for the 9 th month in a row in November, with strong gains in both sales and price growth – a trend t…

Now there's a kind of Dragon's Den for real estate agents

2019-12-13

Listing Llama enables users to anonymously review and interview agents Steve Randall REP Home buyers and sellers in British Columbia and Alberta can now use a new free app to connect with real estate agents. Listing Llama enables users to a…

BC home sales are "firming around long-term averages"

2019-12-13

Home sales in British Columbia are strengthening Steve Randall REP Home sales in British Columbia are strengthening according to the latest stats from the province’s real estate association. BCREA says that MLS sales in November rose …

Rental investor confidence points to rising market

2019-12-13

Higher rents, lower vacancies, bigger returns will continue to characterize Metro Vancouver?s multi-family rental sector into 2020 Lance Coulson Western Investor What does the future hold for the rental apartment market in 2020? We predict …

BoC expects surge of bankruptcies

2019-12-13

Bank of Canada says interest will rise and more bankruptcies will happen Neil Sharma Mortgage Broker News The Bank of Canada may not have raised its benchmark rate last week, but when it does—and it will—expect a rise in bankrup…

Vancouver Real Estate is going to shine again in 2020

2019-12-13

2019 had its ups and downs Tina Mak other Wow! What a year of ups and downs for Vancouver real estate! There were no shortage of negative news in the first 6 months.  It reminded me of year 1996 to 2000 (read my attached graph). &…

BC speculation tax set to rise

2019-12-12

Speculation and Vacancy Tax increased to 2 percent Gerv Tacadena Canadian Real Estate Wealth British Columbia's Speculation and Vacancy Tax will increase from 0.5% to 2% starting 31 December, according to the Ministry of Finance. The new ta…

Vancouver firm claims a world first for real estate AI platform

2019-12-12

EIi Technologies uses AI to review real estate documents Steve Randall REP The use of technology to review contracts is already rising fast in the legal services industry but a Vancouver firm hopes to find traction in the real estate indust…

Home Sales Firming Across the Province BCREA Statistics December 2019

2019-12-12

BCREA December 2019 Report BCREA The British Columbia Real Estate Association (BCREA) reports that a total of 6,616 residential unit sales were recorded by the Multiple Listing Service ®  (MLS ® ) in November, an increase of 27…

Commercial real estate activity remains below the pace of recent years

2019-12-12

Sales activity in the Lower Mainland?s commercial real estate market continued to decline in the third quarter REBGV Sales activity in the Lower Mainland’s commercial real estate market continued to decline in the third quarter (Q3) o…

Comprehensive inventory vital for new strata corporations

2019-12-12

A complete building commissioning best for strata budgeting Tony Gioventu The Province Dear Tony: I am on the first strata council of a new building in Metro Vancouver and we are having some challenges trying to determine our obligations. W…

Natura 73 one, two and three bedroom homes at 3182 Gladwin Abbotsford by Naturbana Properties and Kerkhoff Construction

2019-12-12

Natura to offer parkside residency Michael Bernard The Province Bruno Jury isn’t your garden-variety developer. His mission encompasses much more than building homes to put up for sale. He says he wants create happy places where the r…

Squamish Nation approves $3-billion housing project in Kitsilano

2019-12-12

Squamish Nation approves highrises Joanne Lee-Young The Province The Squamish Nation has approved going ahead in partnership with Westbank Development to build a $3-billion housing project with 6,000 new units in 11 towers on reserve land i…

Plaza of Nations redevelopment at False Creek will be built in three phases

2019-12-12

This single project includes $325.5 million in community amenity contributions Kenneth Chan other With its terraced landscaping resembling “urban mountains,” the mixed-use redevelopment of the Plaza Nations in Northeast False Cr…

First-Time Home Buyer Incentive (FTHBI)

2019-12-11

Federal government incentive plan for first-time home buyers other The First-Time Home Buyer Incentive (FTHBI) was launched on September 2, 2019 by the federal government and offers a 5% or 10% contribution towards your down payment in the …

Government extends speculation tax exemptions for some strata owners

2019-12-11

Multiple condo owners exempt from speculation tax Rob Shaw The Province Owners of multiple condos and apartments who can’t rent their units due to strata restrictions will get an extended exemption from the province’s speculatio…

Canadian housing starts were flat in November says CMHC

2019-12-10

Vancouver saw a significant decline in the trend of multi-unit starts for a second consecutive month Steve Randall Canadian Real Estate Wealth The key measure of Canadian home construction showed little change last month. CMHC reported that…

Steady housing starts recorded in November

2019-12-10

The growth in other major markets offsets Vancouver's decline in housing starts Gerv Tacadena Canadian Real Estate Wealth Canada's residential property market recorded slight increases in housing starts in November, according to the latest …

B.C. speculation tax increases to 2% for overseas owners

2019-12-10

Taxpayers to be alerted to changes, revised exemptions for coming year Jeremy Hainsworth Western Investor B.C.’s speculation tax will rise from 0.5 per cent to 2 per cent for homes and land owned by foreign owners or satellite familie…

Vancouver CRE investment sluggish as residential land drags

2019-12-09

Commercial Real Estate has remained stable in Vancouver Steve Randall Canadian Real Estate Wealth Investment in commercial real estate in Vancouver has remained stable during 2019 but far weaker than a year ago. Figures from the Altus Group…