Real Estate Blog

Vancouver's warehouse lease rates are up 29 per cent in the first quarter year-on-year versus a global average of 3 per cent

The Amazon era is making Vancouver the world's hottest industrial real estate market

Forget that multi-million-dollar condo on Vancouver’s waterfront. Invest in a warehouse instead.

The Canadian city is the world’s hottest industrial real estate market with lease rates up 29 per cent in the first quarter year-on-year versus a global average of 3 per cent. IKEA and BMW AG are among companies that have snapped up the biggest industrial and logistics spaces, according to data provided by CBRE Group Inc.

“Industrial previously was almost like a forgotten asset class,” Jason Kiselbach, vice president and sales manager at CBRE Vancouver, said by phone. “But we haven’t even scratched the surface of the

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Average rent for a two-bedroom suite remains unchanged month-over-month and year-over-year

 Vancouver apartment rent growth flat over past year: PadMapper

The cost to rent both one- and two-bedroom apartments remained flat in Vancouver year-over-year in August, according to new PadMapper data, which includes median rents for all homes that are currently available to rent or vacant and does not include those homes that are already rented out.   The average rent for a one-bedroom apartment was $2,000, which was unchanged compared with July and only 0.5 per cent higher than it was a year ago. Two-bedroom rents, on average, didn’t change at all month-over-month or year-over-year and remain at $3,200.   Vancouver had long been the most expensive city in which to rent both one- and two-bedroom…
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Global index says Metro Vancouver's home prices are 65 per cent Real Estate Agents Answer: What's The Biggest Mistake That Buyers Make?

Navigating the real estate market can be tough. It's only natural that some people are going to make missteps. With that in mind, I went straight to the source and asked industry professionals to share their experiences with the biggest mistakes that buyers make. Read on to learn how to avoid making one of these all-too-common pitfalls.

Not meeting with a lender early:

"I'd say the most common mistake I see first-time homebuyers make is not meeting with a local lender right away. I believe a lot of people worry about ‘wasting’ the lender’s time, especially if they aren’t ready to buy immediately. I try and counsel clients to understand that the earlier they consult with a lender,

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British Columbia toughens requirements for property purchased by corporations, trusts

British Columbia will soon force people who use corporations or trusts to buy property in the province to disclose more complete information, a move the government says will close a loophole that has allowed speculators to evade real estate taxes.

Starting Sept. 17, new property-transfer-tax forms will require people to report additional information, including their name, citizenship and social-insurance number, if they purchase residential or commercial real estate through a corporation or trust. The new reporting requirements will have exemptions for charitable trusts and certain corporations, such as hospitals and schools.

“Not only is tax evasion in real estate fundamentally unfair, but it’s driving up the cost of housing for people who live

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New Zealand government has imposed a ban on non-resident buyers for resale homes – but will it help curb runaway prices?

Opinion: Should B.C. follow New Zealand’s foreign buyer ban?

New Zealand’s Prime Minister, Jacinda Ardern, is fulfilling her early promise to tackle the country’s soaring property prices.

Ardern – who seems to be taking over from Justin Trudeau as the global media’s latest, youngest, hippest nation leader du jour – promised last fall after her election that non-resident buyers would not be permitted to purchase existing homes anywhere in New Zealand (while also announcing a crackdown on immigration). It has just been confirmed, on August 14, that this policy will go ahead.

Just like in Canada, New Zealand’s larger cities have seen a severe housing supply shortage and home prices have

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Metro Vancouver real estate prices are 65% overvalued: Economist

Metro Vancouver real estate is valued at 65 per cent higher than it should be, based on local incomes, according to a new global house price index by The Economist.

The U.K.-based financial publication’s research team found that the region’s home prices have risen by more than 60 per cent over the past five years.

In terms of real estate value versus median household incomes, The Economist reported that Metro Vancouver was the fifth most overvalued of 22 major global cities studied, after Hong Kong, Auckland in New Zealand, Paris, and Brussels in Belgium.

Vancouver is followed by London, UK and Sydney, Australia, both of which were deemed overvalued by 50 per cent or above.

On a country-by-country basis, Canada was deemed the third

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Costly social housing: monthly rents up to $4,700 per unit at new Vancouver development

 

A range of rents will apply at a new “social housing” project in Vancouver.

For most of the 299 social housing units proposed at 950 West 41st Avenue, it will be “full market” rates.

For three-bedroom units, the rents will start from $3,900 up to $4,700 per month.

For two-bedroom units, the monthly rents will range from $3,250 to $3,370.

For one-bedroom units, it’s $2,400 per month.

These full-market-rate rentals constitute 60 percent of the 299 social housing units that will be part of the planned redevelopment of the Jewish Community Centre.

According to a City of Vancouver staff report on the proposed rezoning for 950 West 41st Avenue, 10 percent of the entire social housing development will form what is considered as

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Montreal's hot real estate market spawns rare phenomenon: bidding wars

Montreal's sizzling real estate market has spawned bidding wars, a common occurrence in recent years in the frenzied Toronto and Vancouver markets, but a rare phenomenon in Canada's second-largest city.

A mix of very low inventory, a solid Quebec economy and influx of foreign buyers has caused home prices in Greater Montreal to appreciate above the national average for the first time in seven years.

In contrast to mixed performances in the Toronto and Vancouver markets that tend to dominate headlines, Montreal's market is on a solid upward trajectory.

The Greater Montreal Real Estate Board reported home sales increased in July for their 41st consecutive month, hitting an eight year high for the month. The median single-family home price

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Kennedy Stewart mayoralty would bring a cautious approach to housing, possible electoral reform to Vancouver

When it comes to a fix for Vancouver’s housing crisis, don’t expect any hasty moves to cool the market from Kennedy Stewart if he becomes Vancouver’s next mayor.

He would move fast to build social and affordable rental housing while willing partners – the provincial NDP and federal Liberals – are in power. He recognizes that window of opportunity could vanish should either party be turfed in future elections.

But when it comes to market adjustments, the NDP MP, who is resigning his seat to run for mayor, favours a go-slow approach. He sympathizes with Vancouverites who, like he and his wife Jeanette Ashe, rent in the current market where vacancy rates hover at about 1 per cent and rents are the highest in Canada. But he says he also

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The key to affordable housing isn't building more units — it's better public transportation

Haider-Moranis Bulletin: Public-sector interventions seldom make a huge difference in housing markets, and neither do falling sales or prices

Two contrasting pictures of Toronto’s housing market have emerged in the past week. One shows the market is recovering from last year’s slump when prices and sales fell. The other shows the market is becoming increasingly unaffordable, prompting one mayoral hopeful to make affordable housing a central plank of her campaign.

This housing market seesaw suggests the balancing act of maintaining healthy returns in housing while keeping the city affordable is becoming increasingly difficult.

July housing sales data in Toronto paints a picture of a recovering market with both sales and prices higher than a

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