Greater Vancouver Real Estate Market Report for October 2018

Here's a look back at real estate market statistics for Greater Vancouver listings and sales for October 2018 from Royal Pacific Realty. Subscribe to receive these directly in your inbox every month!MLS® HPI Benchmark Price for October 2018HPI stands for...

What foreign buyers need to know about taxes

Property in the Lower Mainland continues to attract investors world-wide. So it’s important for buyers to understand Canada’s tax laws. Here is a brief summary of information. Resident or non-resident? Under Canada’s income tax system, whether an individual is a...

Greater Vancouver Real Estate Market Report for September 2018

Here's a look back at real estate market statistics for Greater Vancouver listings and sales for September 2018 from Royal Pacific Realty. Subscribe to receive these directly in your inbox every month! MLS® HPI Benchmark Price for September 2018 HPI stands for “Home...

New powers for strata corporations to fine owners of short-term rentals

Strata corporations will have new powers to pass bylaws restricting or banning short-term rentals and fine non-compliant owners or residents up to $1,000 a day because of changes to the BC Strata Property Regulation. The goal is to help strata corporations deal with...

Tips to help sell your home

Are you thinking of selling your home? Before your Royal Pacific Realty Realtor® begins showing your home, you'll want to ensure it’s in tip-top condition. An attractive, well-kept home typically has a better chance of selling sooner. Minor exterior and interior...

Greater Vancouver Real Estate Market Report for February 2018

Here's a look back at real estate market statistics for Greater Vancouver listings and sales for February 2018 from Royal Pacific Realty. Subscribe to receive these directly in your inbox every month! MLS® HPI Benchmark Price for February 2018 HPI stands for “Home...

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The new speculation tax. Who pays it?

In the February 28, 2018  Provincial Budget, the BC government announced it would introduce legislation to impose an annual speculation tax effective for the 2018 tax year. The speculation tax targets foreign and domestic speculators in BC - homeowners with property...

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Rate hike increases mortgage costs

The Bank of Canada increased its interest rate to 1.25% from 1.00%. How will this effect mortgage holders? All six major banks have raised their posted five-year, fixed-rate mortgage rates to 5.14 per cent from 4.99 per cent. Mortgage costs and income required Housing...

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New mortgage rules effective now

Effective January 1, 2018, home buyers who don’t require mortgage insurance — those with a down payment of 20 per cent or more — must qualify for their mortgage at a higher rate.

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Greater Vancouver property assessments mixed

Property owners will receive their 2018 assessment notices this week. The 2018 Assessment Notice is BC Assessment’s (BCA’s) estimate of a property’s value as of July 1, 2017, and for new construction or substantially renovated homes, the physical condition as of...

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Vancouver’s Empty Homes Tax – what you need to know

In response to a rental vacancy rate of less than one per cent and a significant number of empty homes, the City of Vancouver has implemented an Empty Homes Tax. The city estimates the tax will raise $2.2 million per year when fully implemented. The tax rate is 1 per...

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