In order to curb rising home prices and prevent money from being "parked" in Canada, the government banned foreign buyers on January 1, 2023. Some exemptions applied such as permanent residents, temporary residents and students.
View CMHC's article of the original January release.
The City of Vancouver, BC Canada requires that Vancouver homeowners submit a yearly declaration to determine if their property is subject to the Empty Homes Tax. Any properties which are deemed empty or declared empty, will be subject to an empty home tax.
On November 24, 2022, the BC government passed Bill 44. It changed restrictions around rentals and ages of owners and tenants, under the new Building and Strata Statutes Amendment Act.
Contact us if you have any questions.
Condominium investors will want to keep an eye on condo rentals in New Westminster.
On March 30, the city won a BC Supreme Court ruling that cements B.C.’s first bylaw that allows retroactive rezoning of condos to rental units in six specific rental buildings. So far approximately 270 ...
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CMHC's Vancouver Rental Market Report for 2018 provides in depth analysis of rental rates, vacancy rates, turnover rates, building types, and much more. This exhaustive report details statistics for bachelor, 1 bedroom, 2 bedroom and 3 plus bedroom homes from Vancouver all the way to Maple Ridge and Langley ...
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The B.C. Residential Tenancy Act was amended on May 17, 2018.
Following are a few highlights reflecting the changes to the Residential Tenancy Act.
If a Landlord is taking over a property or a buyer is going to be occupying it, the notice to tenants is still 2 calendar ...
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CMHC's Vancouver Rental Market Report for 2017 provides in depth analysis of rental rates, vacancy rates, turnover rates, building types, and much more. This exhaustive report details statistics for bachelor, 1 bedroom, 2 bedroom and 3 plus bedroom homes from Vancouver all the way to Maple Ridge and Langley ...
This week, the City of Vancouver will begin a phased approach to mailing out the Empty Home Tax Declarations to applicable Vancouver home owners. This form must be filled out and submitted to the city by February 2, 2018 and according to the city "will have their properties deemed vacant ...
The Fifth Dimension has produced a great report on the multifamily market in Metro Vancouver. They compare presale and recently completed new projects by area and provide some informative insights. Please let us know if you have any questions, thanks. View the report.
According to the 2016 CMHC Greater Vancouver Rental Market Report, overall vacancy rates have decreased to 0.7% and the average rent is $1,223 which is up 6.4%. On average, Vancouver still continues to achieve higher rental rates than outlying areas. View the PDF for all the details ...
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