In British Columbia, more residents live in a strata unit than a detached home, and this number will continue to grow. A strata unit can be a townhome, condo, or du/tri/multi-plex.Definitions of common strata terms is found here.Living in a strata is a form of communal living. Although residents have their own units, known as their entitlement, the...
The federal Budget 2021 announced the government’s plans to implement, effective January 1, 2022, a national, annual one-per-cent tax on the value of non-resident, non-Canadian owned residential real estate that’s vacant or underused.The government is finalizing draft legislation for the proposed underused housing tax (UHT). They’re releasing a dra...
While home buyers have remained active in Metro Vancouver* throughout the summer, the supply of homes for sale has declined steadily since June. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,152 in August 2021, a 3.4 per cent increase from the 3,047 sales recorded in August 2020, and...
Several factors influence the housing market, including mortgage interest rates, inflation, employment, investment, construction, immigration, government assistance programs, and the health of local and world economies. All of these influence the supply and demand of the market which, in turn, affects prices.There are three classifications experts...
The final three months of 2020 were the worst as far as COVID-19 cases in Burnaby.Those rising numbers brought with them more lockdowns, including real estate agents being “urged” to halt open houses, according to one item on the website of the Real Estate Council of B.C.And yet, those lockdowns and restrictions didn’t stop real estate sales and pr...
Home sales and new listing activity remained at near-record levels across Metro Vancouver in October – with Burnaby seeing astronomical price increases in certain parts of the city and certain types of properties. Home sale and new listing activity remained at near-record levels across Metro Vancouver in October – with Burnaby seeing astronomical p...
