Blog

How to rent your home on Airbnb in Vancouver

Prior to April 2018, rental stays of less than 30 days are not allowed in Vancouver except for in licensed hotels or bed-and-breakfasts in zoned areas. Due to high rents and low vacancy rates, the city has voted to begin allowing short-term rentals. So if you’re looking to make some extra ...

Continue Reading

BC housing market updated, February 2018.

Metro Vancouver* home sales dipped below the long-term historical average in February. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,207 in February 2018, a nine per cent decrease from the 2,424 sales recorded in February 2017, and a 21.4 per cent ...

Continue Reading

BC budget includes new real estate taxes and spending commitments

BC budget includes new real estate taxes and spending commitments Housing was the dominant issue in today’s provincial budget. The government released a 30-point housing strategy aimed at reducing housing demand, curbing tax fraud, building affordable housing, and increasing security for renters. New tax measures include increasing property taxes and property transfer ...

Continue Reading

In BC Budget 2018, the foreign buyers tax will be increased to 20% from 15%.

Budget 2018 carves a new path to shared prosperity for everyone in the province with a made-in-B.C. child-care plan, a comprehensive housing plan and record levels of capital investment in every corner of the province, Finance Minister Carole James announced today. “Budgets are not only about the bottom line, they should ...

Continue Reading

CIBC Ends Controversial Mortgage Program Targeting Foreign Income (35% down, no income verification mortgage)

As if the Canadian housing market needed another round of tightening, it appears CIBC is pulling the plug on it’s controversial mortgage program which targeted foreign Income. As first reported on Better Dwelling, CIBC has quietly notified its mortgage advisors the “Foreign Income Program” has ended. The program was replaced ...

Continue Reading

How do I appeal my property assessment?

Have you been caught off-guard by a double-digit percentage increase in your property assessment? Do you think the new number is higher than it should be? B.C. Assessment allows homeowners to appeal their new property assessment — but it must be filed by January 31. You can appeal your property assessment if you ...

Continue Reading

The latest property assessments are available now from BC Assessment, Greater Vancouver home assessments up 1-30% in 2018:

Homeowners across Greater Vancouver have seen their residences being assessed at values that are slightly higher than they were a year ago, according to BC Assessment data published January 2. The values posted this week reflect market value as of July 1, 2017. The total value of all Greater Vancouver properties ...

Continue Reading

Registration for Park West at Lions Gate is open now, please register here:

The new Lions Gate Village master planned community promises to be a vibrant, pedestrian-oriented neighborhood comprised of parks, greenways, convenience-based retail and residential living. Its unique location allows for easy access to Park Royal, Downtown and Stanley Park while it's setting near Capilano River provides unparalleled access to riverside hikes ...

Continue Reading

Strong economy behind high demand for housing sales in B.C., report says

The B.C. Real Estate Association says a strong economy has pushed up demand and prices for housing in the province compared with last year. The association’s latest report says 7,731 sales were recorded by the Multiple Listing Service in November, a 20.4 percent increase from November 2016. The average price was $723,112, ...

Continue Reading

Foreign buyer tax by the numbers:

When the 15 percent foreign buyer property transfer tax came into effect in August 2016, there was widespread conjecture on whether it would discourage foreign home buyers. To find out, we asked the BC Ministry of Finance for data. They provided only the number and percentage of foreign buyer transactions. Specific ...

Continue Reading