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  1. Canada”s luxury real estate market cooled significantly last year, setting 2023 up for a buyer’s market across much of the country as prices come down

    Posthaste: Luxury real estate enters buyer’s market as prices come back down to reality Victoria WellsFinancial Post Prices easing as sellers adjust to new realities of market, Sotheby’s says Luxury real estate prices are expected to be lower in 2023. Photo by Tyler Anderson/National Post Canada’s luxury real estate market cooled significantly last year, setting […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    17-01-2023
    Real Estate Related

  2. Rent is projected to rise by another 5% in 2023

    Average rent increased by 10.9% in 2022, report shows Shantae CampbellFinancial Post

    By Les Twarog Vancouver Real Estate and Condo Blog
    17-01-2023
    Real Estate Related

  3. 1.5 acres land assembly in Vancouver sells for $100 Million

    Vancouver city block sold for $100 million in medical deal Western Investor StaffWestern Investor The Vancouver General Hospital (VGH) and the University of B.C Hospital Foundation closed on this full city block property across from VGH in March 2022. Courtesy: Colliers, for Western Investor (top land deals of 2022)   Property type: Land assembly (Windermere […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    17-01-2023
    Real Estate Related

  4. Rent is projected to rise by another 5% in 2023

    Average rent increased by 10.9% in 2022, report shows Shantae CampbellFinancial Post Condo buildings in Liberty Village neighbourhood in Toronto. Photo by Carlos Osorio/Reuters files Canadians faced an average annual rent increase of 10.9 per cent in 2022, with another five per cent increase forecast for  2023, according to year end data from Urbanation and […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    17-01-2023
    Real Estate Related

  5. Canada annual inflation rate falls to 6.3% in December

    Canada’s inflation rate slows in December Fergal McAlindenCMP Annual price growth cooled in the final month of 2022 The annual rate of inflation in Canada fell to 6.3% in December, according to the national statistics agency, with gas prices posting a notable monthly decline. Statistics Canada said in its latest consumer price index that Canadians […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    17-01-2023
    Real Estate Related

  6. 14 acres industrial land sells for $75 Million located at 12091 88th Avenue, Surrey, B.C.

    Surrey 14-acre industrial site sells for $75 million Western Investor StaffWestern Investor Once the site of a newspaper printing plant, the site was sold for land value and eventual development Re/Max Little Oak Realty, Surrey, B.C., for Western Investor   Property type: Industrial land Location: 12091 88th Avenue, Surrey, B.C. Land size: 14 acres Zoning: Light industrial […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    16-01-2023
    Real Estate Related

  7. Canadian home sales increase by 1.3% in December | CREA

    National home sales rise in December Fergal McAlindenREBGV

    By Les Twarog Vancouver Real Estate and Condo Blog
    15-01-2023
    Real Estate Related

  8. Canadian home prices fell by the most on record in 2022

    Canada Home Prices See Record Drop as High Rates Hit Buyers Ari AltstedterFinancial Post Canadian home prices fell by the most on record in 2022, as rapidly rising interest rates forced a market adjustment that may have further to go. A “Sold” sign in front of a home in the York neighborhood of Toronto, Ontario, […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    15-01-2023
    Real Estate Related

  9. Metro Vancouver’s industrial vacancy rate ended 2022 unchanged at 0.2%, despite record volumes of new construction

    Metro Vancouver industrial market remains tight as 2023 begins Peter MithamWestern Investor No relief in sight as most space spoken for months ahead of completion Metro Vancouver industrial lease rates broke $20 per square foot over the past year while vacancies cruised historic lows.Colliers International Metro Vancouver’s industrial vacancy rate ended 2022 unchanged at 0.2 […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    13-01-2023
    Real Estate Related

  10. Canadian home prices decline since the the global financial crisis in 2022

    ‘The declines already happened’: Why Royal LePage thinks home prices will flatten out in 2023 Denise PaglinawanFinancial Post Canadians can expect to see progressively slower price declines as the year goes on A ‘for sale’ sign is displayed outside a home in Toronto. Photo by Carlos Osorio/Reuters files Canadian home prices posted their first year-over-year […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    13-01-2023
    Real Estate Related

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