One tool Realtors use is comparing prices from recent sales in your area. Bonus: what's the difference between assessed and sale values? (2 minute read)
The federal government’s ban on new foreign ownership of residential property becomes law on January 1, 2023. Here's what you need to know. (3 minute read)
Metro Vancouver is facing a housing affordability crisis. Home prices continue to rise, and the inventory of homes for sale is insufficient to meet today’s demand.
Read about the federal government’s plans to implement a national, annual one-per-cent tax on non-resident, non-Canadian owned residential vacant or underused real estate.
The provincial speculation and vacancy tax applies to airspace above buildings classed as residential. The government will temporarily remove this tax for one year.
To help stop the hidden ownership of real estate and prevent money laundering and tax evasion, the BC government has introduced legislation and an owner registry.
In a busy real estate market, homes are bought and sold at a faster pace than usual. This can create a sense of urgency that causes home prices to rise.