Real Estate Blog

What would be city’s fourth-tallest high-rise aims to echo under-construction Vancouver House opposite, to create new “Granville Gateway”

 Developer files application for 54-storey downtown Vancouver tower (IMAGES)

A rezoning application, along with a fresh set of renderings, has been filed with the City of Vancouver for what would be the city’s fourth-tallest tower.

Pinnacle International wants to build a 54-storey luxury high-rise at the north end of Granville Bridge, opposite the under-construction Vancouver House. Together the redevelopment of the Granville loop lands is intended to create the new “Granville Gateway” – a grand architectural entrance from the bridge into downtown Vancouver.

The architect on the project, GBL Architects, has designed a curvilinear tower with a twist in the facade that pays

96 Views, 0 Comments

Is this Canada's hottest real estate market?

Vancouver and Toronto have been supplanted by Montreal as having the Canada’s hottest real estate market.

“Montreal has been a very healthy market for a number of years, but it’s been overshadowed by the historical performances of Vancouver and Toronto,” said Sotheby’s International Realty Canada’s President and CEO Brad Henderson. “Enter the foreign buyer tax in 2016 for Vancouver and the Ontario Fair Housing Plan in 2017, and both the Vancouver and Toronto markets experienced considerable declines in activity, and as a result what became apparent is how healthy the Montreal market was. We expect this year that we’re going to see the largest number of homes bought and sold in the Montreal area. By that definition, it’s definitely the hottest

44 Views, 0 Comments

New government loans only available on homes up to $225,000Down payment loan limits will force buyers to rural P.E.I.: Real Estate Association

The P.E.I. Real Estate Association says Islanders hoping to take advantage of the province's new down payment assistance program will likely need to do their house hunting in rural P.E.I.

The program was officially launched Tuesday, with more details on who can now apply for an interest-free loan, and for how much.

 

Government says first-time home buyers with a household income of up to $80,000 will qualify for a loan to cover the five per cent required down payment.  But that's only on houses that are $225,000 or less. 

"How many houses are really for sale for $225,000? There are some. But they're all mostly in more rural areas," said Greg Lipton, the association's

53 Views, 0 Comments

Q: I am recently engaged and my fiancé and I each own a house. We are looking to sell both and buy something together with the equity in order to have a shorter mortgage.

We each have 22 years left on our mortgages and two years left on our current mortgage term. There are many things to consider such as real estate commissions, land transfer tax, refinancing/interest rates, discharging and porting fees. It’s hard to know where to start! We really want to be mortgage-free sooner and pay less interest in the long run; that way we have more money to invest in savings each month. How do we calculate if the fees are worth the move? How do we decide what our budget for our new home is?

—Jamie B.

A: Hi Jamie. Congratulations! It’s great that you

211 Views, 0 Comments

Modular housing units are popping up in various unoccupied downtown Vancouver spaces, but their numbers represent only a fraction of the potential total, say industry and government professionals.

Moving modular design beyond temporary

According to the province’s fall budget update, the province donated $291 million for construction of 2,000 units of modular housing for the homeless. Only 421 units in eight modular supportive-housing projects have been completed and are being occupied; five are in Vancouver and three are in Surrey.

But modular housing initiatives are facing delays in finding land and getting municipal approvals.

Education and approval are also being identified as the main barriers for increased adoption of modular developments.

“In the city of Vancouver, we

52 Views, 0 Comments

Tenants need to be aware of what's legal and what isn't, and advocate for themselves to avoid overpaying

Here’s what your landlord can and can’t do with a rental increase in B.C.

On Sept. 26, Premier John Horgan announced that the government would accept the recommendations that were made from the province’s rental housing task force. 

As a result, the annual allowable rental increase for landlords in 2019 will be set at 2.5 per cent, or the rate of inflation. Previously, the plan was to increase the amount to 4.5 per cent, which caused an uproar. 

With that in mind, a number of landlords issued their tenants the 4.5 per cent rental increase, rather than the amended amount. Of course, tenants are not responsible for fixing the amount issued; however, they may have to bring it to their landlord’s attention. If they

129 Views, 0 Comments

Canadian Real Estate Association will post past sales data without a password

TORONTO — The Canadian Real Estate Association says it will soon be adding historical sales data to its realtor.ca website.

The industry group said Thursday the information will be included along with new listings and be accessible without a password.

CREA spokesman Pierre Leduc says the data will only be posted if the regional real estate board requests that it be uploaded. Several boards have already expressed interest, but no timeline has been given on when this information will be online.

The group says it still needs to ensure that the move complies with each province's real estate laws, including whether the latest sold prices can be posted without a password.

Leduc says the Toronto Real Estate Board (TREB), which is the largest in

70 Views, 0 Comments

Surrey is the fastest-growing metro centre in B.C., and its young population – 22 per cent of B.C. births are now in Surrey – is gunning to claim the title of the province’s biggest city within a generation.

The population gap between Surrey and Vancouver will narrow to 100,000 people within three years and will be non-existent by 2040, according to a report Michael Heeney, president and CEO of the Surrey City Development Corp. (SCDC), presented September 13 at an event sponsored by the Real Estate Institute of British Columbia.

Surrey has become Metro Vancouver’s favoured real estate investment destination

The pace could be even quicker, based on the number of people moving south across the Fraser River to find work and affordable housing in the city of 518,000. The SCDC study showed that Surrey posted an 11 per cent

117 Views, 0 Comments

More supply and less demand seen across Metro Vancouver housing market

The supply of homes for sale continued to increase across the Metro Vancouver* housing market in September while home buyer demand remained below typical levels for this time of year.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 1,595 in September 2018, a 43.5 per cent decrease from the 2,821 sales recorded in September 2017, and a 17.3 per cent decrease compared to August 2018 when 1,929 homes sold.

Last month’s sales were 36.1 per cent below the 10-year September sales average.

“Fewer home sales are allowing listings to accumulate and prices to ease across the Metro Vancouver housing market,” Ashley Smith, REBGV president-elect said. “There’s more selection for home buyers

225 Views, 0 Comments

Real estate board reports Metro Vancouver home sales down sharply

VANCOUVER -- The Greater Vancouver Real Estate Board says home sales across the region in September plunged more than 40 per cent compared with the same month last year.

Statistics from the board show 1,595 homes changed hands in Metro Vancouver last month, a 43.5 per cent drop from the 2,821 sales recorded in September 2017.

The board says the result for last month also marked a 17.3 per cent decline when compared with sales in August.

September sales in Metro Vancouver were also 36 per cent below the 10-year sales average for the month.

A news release from the real estate board says more homes were listed across Metro Vancouver in September while demand remained below typical levels for this time of year.

Board president-elect Ashley

35 Views, 0 Comments

Sign-up Here for Real Estate Updates!