News: Vancouver Real Estate Market

If you own a condo or townhouse in BC, or you are thinking about buying one, the strata’s depreciation report is one of the most important documents to review.

A depreciation report looks at the building’s major shared components, estimates when they may need repair or replacement and projects the likely costs over the next 30 years. This can include the roof, windows, elevators, plumbing, heating and ventilation systems, parkade, exterior siding and other common property.

The report also provides different...

A recent survey reveals that 83% of adults in British Columbia, specifically those from Generation Z and younger Millennials aged 18 to 38 (born between 1986 and 2006), view homeownership as a valuable investment. Among those who don't currently own a home, 77% plan to purchase a primary residence during their lifetime.

"Young Canadians have a strong positive outlook on owning real estate. Despite the challenges of entering urban markets like Vancouver, this demographic sees homeownership as a significant...

The Federal government’s new legislation banning foreign buyers from directly or indirectly purchasing property in Canada for a period of 2 years came into effect on January 1, 2023.

Who is a Foreign Buyer or Non-Canadian for the the purpose of this legislation?

The act defines a non-Canadian as:

1. An individual who is neither a Canadian citizen nor a person registered as an Indian under the Indian Act nor a permanent resident;
2. The Act restricts non-Canadians from avoiding the ban by...