Hong Kongers are looking to buy properties in Toronto and Vancouver as protests rage
Posted on Jul 26, 2019 in Real Estate
People scouting for properties in Canada and U.K. as unease surrounding Hong Kong's political future grows amid China's increasing influence.
As the protests continue in Hong Kong there are plenty of real estate brokers in Canada and the U.K. who are receiving a large amount of inquiries from investors, who are from Hong Kong who are eager to get ou...
Canada’s mortgage stress tests just got a little easier
Posted on Jul 23, 2019 in Real Estate
The interest rate used in Canada’s mortgage stress tests has fallen for the first time since 2016, making it slightly easier to become a homeowner.
The mortgage qualifying rate has recently dropped 0.15 per cent going from 5.34 to 5.19 per cent. It has been locked at 5.34 since May of 2018, these figures are from the Bank of Canada. The rate is deri...
Island’s time: Real estate developers catch a waveFrom B.C.’s capital to the Pacific Rim, rebooted and new real estate projects define a changing Vancouver Island
Posted on Jul 19, 2019 in Real Estate
Nanaimo's tax incentives and population growth are credited for record-setting building permits this year. Image supplied by CBRE Victoria
Victoria is facing big-city problems – and potential – as an industrial land shortage and white-hot demand for office and retail space characterize B.C.’s capital city, the province’s strongest commercial real es...
West Vancouver puts hold on 390-unit apartment project
Posted on Jul 19, 2019 in Real Estate
One of the largest rental projects proposed for West Vancouver in decades suffered two major setbacks this week.
This project named the Taylorwood Place project was looking to replace around 20 single-family homes in a residential area near Park Royal with five terraced apartments, with a proposed 156 units of purpose-built market rental and 234 own...
The highest- and lowest-priced homes sold in B.C.: July 7 to 13
Posted on Jul 18, 2019 in Real Estate
BCBusiness’s weekly snapshot of what’s selling around the province
During last week Vancouver and Victoria had the most expensive residential real estate sales last week. Also the two Vancouver properties sold quickly: a Point Grey townhouse went for $1.7 million in a single day, while a Yaletown condo fetched its asking price of $1,271,900 in three...
B.C.’s speculation tax brings in $115M, mostly from owners outside province
Posted on Jul 14, 2019 in Real Estate
]The B.C. government says it expects to collect $115 million from the first year of the speculation and vacancy tax, nearly all of which is coming from homeowners living outside the province.
The Ministry of Finance said Thursday all of that revenue will go towards new housing projects across B.C., and that less than 0.2 per cent of British Columbia...