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As part of its 30-Point Plan for Housing Affordability (PDF), the B.C. government is taking steps to end the hidden ownership of real estate to make sure people are paying their fair share of taxes.Currently in B.C., people can hide their ownership behind numbered companies, offshore and domestic trusts, and corporations. This makes enforcement difficult.To improve tax agencies’ ab…

You know that housing markets are extremely strong within British Columbia and across the country. In most respects, Landcor’s numbers for 2021-Q2 behaved as you and I might have expected – they were phenomenal. There was one small surprise: I had been expecting sales to be at an all-time high, but they were the second highest ever (48,726 residential sales for 2021-Q2 didn’t reach the record o…

The Metro Vancouver(1) housing market continues to experience reduced demand across all housing types.The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,929 in August 2018, a 36.6 per cent decrease from the 3,043 sales recorded in August 2017, and a 6.8 per cent decline compared to July 2018 when 2,070 homes sold.Last month’s sale…

Thursday, September 13, 2018The commercial real estate market in the Lower Mainland continued to see fewer transactions in the second quarter (Q2) of 2018 compared to recent years.There were 569 commercial real estate sales in the Lower Mainland in Q2 2018, a 16.3 per cent decrease over the 680 sales in Q2 2017, according to data from Commercial Edge, a commercial real estate system op…

Vancouver, BC – July 14, 2016. The British Columbia Real Estate Association (BCREA) reports that a record 12,906 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in June, up 14.3 per cent from the same month last year. Total sales dollar volume was $8.97 billion in June, up 25.7 per cent compared to the previous year. The average MLS® residential price in the provinc…

The Bank of Canada announced this morning that it is holding its target for the overnight interest rate at 0.5 per cent. In the press release accompanying the decision, the Bank noted that inflation is on track to return to its target of 2 per cent by 2017, though heightened global uncertainty presents a risk to that forecast.  The Bank judges the overall risks to its forecast as roughly balanc…

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As of May 16, 2016, new provincial rules relating to the assignment of real estate contracts will be in force. The provincial government has amended the Real Estate Services Regulation (the “Regulation”), and these new requirements will apply in all transactions where a licensee is acting for the seller and/or the prospective buyer of real estate.To find out more about contract assignments an…