Real Estate News

More than 12,000 new rental units under development would be at risk of cancellation if the oft-mooted “vacancy control” mechanism were to be implemented, according to a new Urban Development Institute (UDI) survey released November 21.

The proposed building along with Vancouver House are meant to create a “Granville Gateway” leading in and out of downtown Vancouver.

Housing Minister Selina Robinson, who is also responsible for municipal affairs and Translink, spoke to delegates Wednesday at the Union of B.C. Municipalities conference at the Vancouver Convention Centre.

Buying a typical Metro Vancouver home at the current benchmark price requires an annual income of at least $100,000, rising to $163,193 in Vancouver proper.

Luxury condo developers and others aiming at the high-end consumer market have a new target on their radar: "Henry" – an acronym for young adults who are “high earners, not rich yet,” according to real estate giant Engel & Völkers.

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.

Vancouver is now ranked as the worst place in the world for luxury homebuyers seeking a return on their investment, according to a global survey of 43 “prime residential” cities.

The next two years in Metro Vancouver real estate will continue to see lower sales and higher inventories of homes available for purchase than in recent years, according to a forecast released November 6 by the Canada Mortgage and Housing Corporation (CMHC).

Most Vancouverites could relate in someway to this pumpkin carving...The struggle is real when it comes to searching for a suitable home, whether you’re renting or buying.

Look how far Metro Vancouver’s prime real estate has fallen. In this quarter’s ranking of luxury real estate price growth across 43 world cities – a chart that Vancouver topped for six consecutive quarters in 2015-16 – the metropolitan region placed dead last.