VANCOUVER — The City of Vancouver says it has collected $18 million from the first year of its empty homes tax and another $12 million could still flow into its coffers.
The city says in a news release that it expects to generate a total of $30 million from the first year of the tax which is applied to vacant residential properties in a bid to ease Vancouver's near-zero vacancy rate.
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Areas covered by the Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, Pitt Meadows, Maple Ridge, and South Delta.
The real estate industry is a key economic driver in British Columbia. In 2017, 35,993 homes changed ownership in the Board’s area, generating $2.4 billion in economic spin-off activity and an estimated 17,600 jobs. The total dollar value of residential sales transacted through the MLS® system in Greater Vancouver totalled $37 billion in 2017.
The Real Estate Board of Greater Vancouver is an association representing more than 14,000 REALTORS® and their companies.
Where are Western Canada's biggest hotspots for real estate investment in 2019? If you have some funds burning a hole in your pocket, you would be advised to take a look outside of the usual suspects of Vancouver and the Capital region.
Here are our sister publication Western Investor's picks for the top five Western Canadian cities to invest in real estate over the next year.
Read on to find out!
If you cannot afford a house in Vancouver but still want the luxurious lifestyle, developers are bringing some fun ammenities to their designs:
1. designated hot and cold food storage rooms for food delivered before you make it home from work
2. designated spot for Uber and Lyft rides (not yet in Vancouver!)
3. a high-tech shared working space for those who want to work from home
4. an exercise room outfitted with a gym system that mixes arcade-style activities with fitness.
In 2014, condo developer Tridel partnered with Vancouver-based social networking business Bazinga, which runs a platform that lets condo residents chat with each other and building staff, book amenities, access important documents and receive news about their community.
As developers reflect on all the high tech they want in their own homes, they are bringing those ideas to their projects. It will be interesting to see what they bring to Vancouver in the future!
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A 55-unit, six-storey residential building is proposed for a land assembly near the Little Mountain development site.
The proposal, for which a rezoning application has been submitted, involves property from 4906 to 4970 Quebec St.
A 55-unit, six-storey residential building is proposed for a land assembly near the Little Mountain development site.
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A proposal for a five-story, mixed-use building at 4464 Dunbar St. will be reviewed by the City of Vancouver’s Urban Design Panel Oct. 3
Under the site’s existing C-2 zoning, the application is conditional, so while it may be allowed, a decision by the Development Permit Board is required. The Urban Design Panel advises city council and staff about development proposals or policies, including major development applications, rezoning applications or other projects of public interest.
IBI Architects, in conjunction with Qualex Landmark Ltd., is involved in the Dunbar project.
An open house about was held in the community on Sept. 20 and a decision on the permit is expected from the Development Permit Board on Nov. 26.
The site sits between West 28 and 29th streets and the plan is for 48 market strata units, 10,869 square feet of commercial area, a height of up to 52.9 feet, a total floor space area of 76,907 square feet, and two levels of underground parking with 129 parking spaces.
Everyday, as I peruse the listings on our industry MLS site, I am astonished at the terrible photos my colleagues choose to use to sell their clients home online! EVERYONE starts their home search online so first impressions are key.
The potential Buyer is looking at the features of your home - not your stuff. They want to see if your kitchen counter is marble or laminate. Put your dirty dishes, dish cloths, tea towels, rotting bananas, and jars of spices, lentils etc. away. They are very distracting in a photo. Instead, if you have a beautiful espresso machine, leave that out and add a simple bowl of crisp green apples.
Bathrooms should be immaculate, with all personal items away, brand new towels out, and toilet seat down!
Bedrooms - clothes away, beds made, closets tidy - no one wants to be hit in the head with a tennis racquet when they open a closet door.
Small floor mats in ANY room should be removed for photos - they look like small patches of color in photos - again very distracting. I could go on..... Easier to give me a call!
Once your home is listed online, go and look at the photos. Would you buy it based on what you see?!
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Property analysts are predicting that the Greater Vancouver real estate market will continue to cool.
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On September 18th, at one of the last meetings before the Vancouver civic election, there will be a public hearing held on plans to allow duplex zoning in almost every city neighbourhood.
This is a final move by Mayor Gregor Robertson to add even more density, and in the future, the new council will consider further density with fourplexes and townhomes.
Some believe that these new types of housing in current single detached home zoned areas will be unaffordable for most residents - especially on Vancouver's west side. Duplexes on the west side are selling in the $2,000,000 to $3,000,000 range.
