Category: Uncategorized
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Easy Money Era Ends for Metro Vancouver
Vancouver property taxes rose by 7.5% this year, with another 7% increase expected in 2025. Cities relied on rising Real Estate prices and development fees to freeze property taxes, but market conditions changed.
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Pod Power: Can Tiny Rooms Solve Vancouver’s Big Problem?
Creative Solution: Vancouver City Council is facilitating conversions of vacant office space into pod hotels. Demand for Hotels: Vancouver faces a shortage of 10K hotel rooms, driving up accommodation prices.
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Why Vancouver Housing Favours Buyers in Late-Q2
In June 2024, there were 2,395 home sales in Greater Vancouver, a decrease from previous years and months. New listings increased to 5,723, contributing to a total of 13,605 active listings.
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Check out my listing Address: 509 2968 SILVER SPRINGS BOULEVARD
FIRM DEAL! $0LD!
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Vancouver: Rate Cut Is Not Enough!
Vancouver's property manager notes the recent interest rate cut hasn't spurred renters into homeownership.Late-Q2 has been normal with no increased tenant departures or notices of home purchases.
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Vancouver Slips in Global Liveability Rankings
The liveability index shows Vancouver dropping from 5th to 8th place, attributing this decline to the housing shortage. Vancouver's overall livability score was 96.6 out of 100.
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Vancouver Sets Goal of 83,000 New Home Approvals by 2033
The City of Vancouver disagrees with the provincial government's method of tracking new housing supply. Vancouver prefers tracking approvals (when permits are granted) instead of completions (when homes are built).
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Check out my new listing Address: 810 E 51ST AVENUE
Entire 3BD 3BA back unit of a newly built fourplex! PRICE INCLUDES GST.No strata fees, basement rental unit, move-in ready! Located on the East Side, it's convenient and quiet with a modern open layout. Crafted by a West Side luxury builder , this place is stunning and built to the highest standards. Comes with 2-5-10…
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New interest rate will not impact Vancouver housing market
Bank of Canada's interest rate cuts may not significantly impact the housing market. Lower interest rates could lead to better mortgage rates, but home prices are unlikely to decrease much due to high demand. First-time buyers still need a substantial down payment. Home prices are expected to remain stable in 2024 but could rise in…
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Land Deals in GVA on Hold as Developers Remain Cautious
Land sales in Metro Vancouver are slow due to high financing costs and developers waiting for better deals. Developers are looking for land priced well below market value to account for potential future difficulties.