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  1. Multi-family rental market booms as demand chases short supply

    Nearly $3 billion of Metro Vancouver purpose-built rental properties exchanged hands last year, finds report Peter Mitham Western Investor The sum represents a 37 per cent increase from last year, even though the number of properties changing hands totalled 155, just five more than in 2017. The average price per suite increased 23 per cent, […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    22-01-2019
    Real Estate Related

  2. Park George 13778 100 Avenue Surrey 337 homes in a 36 storey tower by Concord Pacific

    Park George?s second phase in Surrey, BC, builds on success of previous launch other With the first phase of Park George, one of Surrey’s most anticipated new condo and townhome communities, nearly sold out, Concord Pacific is soon launching Phase II. “Park George Phase II is all about expansion. It’s an expanding location with built-in […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    21-01-2019
    Real Estate Related

  3. Signs of moderation showing in Victoria says VREB

    Victoria Real Estate Board forecasts moderation in the market Steve RandallCanadian Real Estate Wealth There were 4,273 housing starts in the Victoria market in 2018 but that level is not expected to be repeated in 2019. The Victoria Real Estate Board’s Crystal Ball Housing Forecast says that there are signs of moderation in the market, […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    20-01-2019
    Real Estate Related

  4. Chinese listings site adds focus on retiring in Canada

    Juwai.com launches its Retirement and Lifestyle Channel Steve RandallCanadian Real Estate Wealth The leading property listings website for Chinese consumers has added a new channel focused on those who want to retire abroad. Juwai.com, which reaches more than 3 million Chinese consumers each month has launched its Retirement and Lifestyle Channel to provide information and […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    20-01-2019
    Real Estate Related

  5. BC homeowners given deadline to apply for speculation tax exemption

    Failure to submit your tax exemption form will result in huge tax increases Duffie OsentalREP British Columbia’s Ministry of Finance gave a deadline for homeowners to apply for exemption from the province’s speculation and vacancy tax. Seen as a way to address the overheated housing market in BC’s large metropolitan areas, the speculation and vacancy […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    19-01-2019
    Real Estate Related

  6. Canada lost 13,000 jobs last month says ADP

    December 2018 say 13,000 jobs gone in Canada Steve RandallREP There was a reduction of 13,000 jobs in Canada in December 2018 according to the latest report from ADP Research Institute. The decline was led by a loss of 7,700 jobs in trade/transport and utilities; 6,900 in construction; and 3,500in ‘other services’ which includes public […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    18-01-2019
    Real Estate Related

  7. More rate cuts expected following RBC move

    Canada?s largest banks to cut 5-year mortgage rate Steve RandallREP Canada’s largest bank may have sparked a rate war by offering customers a “special offer” 5-year mortgage rate of 3.74%. The reduction of 15 basis points is likely to be met with similar deals from other major lenders; many alternative lenders have already reduced rates […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    18-01-2019
    Real Estate Related

  8. Vacancy Tax Explained

    City of Vancouver – Vacancy Tax Office. other With regards to your inquiry, the definition of the “principal residence” per the Vacancy Tax Bylaw No. 11674 is as follow:   “principal residence” means the usual place where an individual lives, makes his or her home and conducts his or her daily affairs, including, without limitation, […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    18-01-2019
    Real Estate Related

  9. More condo project cancellations may be on the way in Vancouver this year, developer warns

    Polygon Homes CEO warning homebuyers that proposed condo projects may be cancelled Josh Sherman other The president and CEO of a major developer is warning homebuyers that more proposed condo projects may be cancelled as inexperienced builders struggle in a cooler market that is still finding bottom.  “Last year, we also saw a few smaller […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    17-01-2019
    Real Estate Related

  10. Vacancy Tax explanation from city of Vancouver

    Will your home be taxed? other Each year, every owner of residential property will have to make a property status declaration. This will determine if the property is subject to the Empty Homes Tax, also known as the Vacancy Tax. The Province of BC’s Speculation and Vacancy Tax  is in addition to the City’s Empty Homes Tax. […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    17-01-2019
    Real Estate Legal Articles

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