From the monthly archives:
Vancouver’s most expensive condominium unit hit the market this week with an $18.2-million price tag. The penthouse apartment at 1000 Beach Ave was sold for less than $3 million just three years ago. To be fair, Vancouver businessman Randy Bishop has spent several million dollars completing the property that was an empty shell when he bought it [...]
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We’ve seen a dramatic rise in the lending rates on mortgages over the past month. In that time, there has been almost a full-percentage point gain. We haven’t seen that type of movement for a very long time.
How is this affecting real estate in Vancouver? So far, there hasn’t been much of an affect that [...]
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For those of us that are interested in real estate in this city, there’s a new website that’s worth checking out. The city recently adopted a new strategic plan for development in the city which they have termed EcoDensity.
In a nutshell, EcoDensity is an attempt by the city to reduce our ecological footprint. They are [...]
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The CMHC recently released their semi-annual Housing Market Outlook for Vancouver. The forecast for the rest of this year and into 2008 remains bullish. Reasons for this continued strength include the continued strength of the local economy, predicted historically low mortgage interest rates, tight rental markets and continued in-migration.
Specifically, strong employment growth and steady in-migration [...]
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The big news for May is that the average benchmark price for a single-family detached home broke all previous records. For the first time ever, we saw the price above $700,000. Apartment properties rose 11.5% from one year ago to an average benchmark price of $358,428.
The market isn’t quite as hot as it has been, [...]
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