According to local real estate agents for Royal LePage, property values have doubled in less than a year in some parts of Vancouver due to foreign real estate investment. “The luxury market has been driven purely on the demand from investors and the appeal is the perfect storm of geographical appeal,” stated Jason Soprovich, who … Read more
Criticism of the new B.C. budget was provided at the provincial legislature today by the MLA of Stikine, who said the many of the main points of the budget meant little to rural and northern communities. “This is not a budget for rural communities,” Douglas said. “I will be saying ‘No’ to this budget.” In rural … Read more
The requirements people must meet before they can become Canadian citizens, such as English or French proficiency, are to be reduced, according to the Canadian government, in order to make it easier for foreigners to obtain citizenship. Immigration Minister John McCallum said Thursday that the government intended to make changes to the Citizenship Act of Canada: … Read more
Announced in the B.C. Budget Speech Tuesday, data about real estate buyer nationality will again be collected in the province due to widespread concern about the effects of foreign investment. Such data was collected in the past, but was stopped in 1998. Since that time, house prices have skyrocketed in B.C., particularly in areas in and … Read more
In an effort to deal with “house prices that have been elevated,” the Canadian federal government raised down payments on houses over $500,000. Analysts have questioned whether the new policy will have any meaningful effect on the market at all, while many Canadians say the change only makes it harder for new Canadian home buyers, and … Read more
Home prices are up in Canada, hovering around the record 6-year high point, but this is almost entirely due to trends in two areas: Greater Vancouver primarily and Greater Toronto on a smaller but still significant level, according to market authorities. The Canadian Real Estate Association reported that Canada-wide, the average home price was now … Read more
A phenomenon known as “jingle mail,” where home-owners faced with mortgages they cannot pay mail their keys back to the bank, may be taking place in Alberta’s slumping economy, concerning the Canadian federal government. The name of the game is “strategic default” — where those who have recently bought houses but have not paid for … Read more
Due to the pressure of Canadians who have complained about Richmond’s predominantly-Chinese signs, the city has signed a contract for some signs — those at bus stops — to be predominantly English. “We’ve had the ongoing issue in Richmond about signs on businesses being in Chinese only or predominantly in Chinese, and there’s great concerns … Read more
Joggers and festival-goers will convene again this year for the world’s first night running music festival. The event will take place in 35 locations around the world, including two Canadian cities and dozens of U.S. cities. The 2016 Night Nation Run now has over one million registered members. On the night of the event, runners will dress up in … Read more
A new development in Vancouver is getting a city first: a shared swimming pool with a glass bottom. Underneath the glass floor panes of the pool is a drop of 200 feet. The architects of Concord Pacific’s upcoming building — called the ARC after its distinctive shape — are sacrificing residential space for iconic impact. … Read more
Canada’s TD Bank has raised fees in several areas this year, including significant charges for things that were free before. The cost to withdraw cash from non-TD Bank ATMS has risen 50 cents to $2.00, but perhaps most significant are the completely new fees: Interac e-Transfers, which were a free service with TD Bank, now cost … Read more
The Globe and Mail has caused a court “book of record” to be released from the Vancouver court in which a trial against a Chinese Vancouverite accused of spying for China is taking place. The most recent development: Two unnamed co-conspirators in the case have been found to be Chinese soldiers. Allegedly, Su Bin, a … Read more