We are very pleased that five real estate organizations have come together to help fight money laundering in British Columbia. This commitment by real estate professionals to collaborate and develop best practices will go a long way towards getting dirty money out of the real estate market, protecting consumers and helping industry professionals improve their knowledge and regulatory compliance.
Years of inaction on the B.C. housing crisis led to sky-high housing prices, drove people out of our province, hurt our communities, and hurt the businesses that create good jobs across the province.
Between Jan. 18 and Feb. 28, 2019, people who own residential property in areas subject to the speculation and vacancy tax (SVT) will receive a letter with clear instructions for how to complete a declaration and register an exemption.
After years of dramatic increases in British Columbia’s annual property assessments, we are now seeing signs of moderation as the real estate market softens in some areas of the province. The soon to be released 2019 property assessments are based on what was happening in the real estate market as of July 1 this year.
Changing interest rates and mortgage rules have left people across the country buzzing about what’s going on in the housing market.
“These rules reinforce a strong and prudent regulatory regime for residential mortgage underwriting, and protect the Canadian banking system in a rising interest rate…
“Applicants must be first-time homebuyers and have a total household income of less than $150,000. Homebuyers must also have been Canadian citizens for the…
Average Vancouver and Lower Mainland homeowners will still gain despite 15% foreign buyer tax Since the British Columbia government introduced its new 15% foreign…
In August 2016 the B.C. Provincial government introduced a 15 percent tax on foreign property buyers and non-residents. The tax was implemented to cool…
The Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC) recently jointly released their Emerging Trends in Real Estate report. The annual report identifies what investors…