Real Estate

Once closed rural Quebec hotel jumps aboard short term rental trend

SAINT-FELIX-DE-KINGSEY, Que.—When Nathalie Gagnon and her partner bought a closed-down inn in Quebec last year, they had no intention of reopening it under the traditional model. Instead, the couple decided to list the entire 17-bedroom, eight-bathroom hotel —complete with pool, sauna, kitchen, game room and hot tub — online on a short-term rental website. Gagnon …

Residential real estate prices edge up in Q1 2017

MANILA — Residential real estate prices rise 1.1 percent in Q1 2017. Residential real estate prices went up by 1.1 percent in Q1 2017, as the Residential Real Estate Price Index (RREPI) rose to 117.2 from 115.9 for the same quarter a year ago. The year-on-year growth in residential real estate prices in Q1 2017 …

Victoria mayor floats plan to billet homeless to ease housing crisis

Victoria’s mayor wants people to open their homes to those sleeping in parks and their cars because they can’t afford or find accommodation. Lisa Helps said residents in the city opened their homes to workers during the Second World War and people should considering doing it again for the hundreds of people who can’t find …

Housing, emissions and children: three ways politics touched Canadians this week

OTTAWA—Save for the several thousand pot-smoking protesters who lit up outside the Peace Tower on Thursday, Parliament Hill was an island of quiet this week—even as global forces battered the country’s sense of security. MPs were mainly in their ridings for the Easter break, and several cabinet ministers were south of the border preaching the …

B.C. economy forecast to fall from top but stay strong despite housing crunch

VICTORIA—British Columbia’s high performance economic engine is forecast to gear down this year as the province’s housing market cools, say some economic experts. B.C.’s economy has led Canada over the past two years, but that trend is not expected to hold in 2017, with Manitoba and Ontario projected to lead the country, says an RBC …

Foreign buyers 1.3 per cent of Metro Vancouver real estate sales since tax

VANCOUVER—The rate of foreign investment in Metro Vancouver housing has fallen to 1.3 per cent since the introduction of a new tax targeting international buyers, according to new data from the British Columbia government. The drop is dramatic compared with the seven-week period before the tax was introduced when foreign buyers accounted for 13.2 per …

Ask Brianna: Should I keep renting or buy a house?

“Ask Brianna” from NerdWallet is a Q&A column for 20-somethings, or anyone else starting out. I’m here to help you manage your money, find a job and pay off student loans – all the real-world stuff no one taught us how to do in college. Send your questions about postgrad life to askbrianna@nerdwallet.com. Q: Paying …

Mortgage expert weighs in on foreign buyer tax

The BC government pulled a surprise legislation to discourage foreign buyers from buying a property in Metro Vancouver, a harebrained attempt that could leave taxpayers footing the bill for a massive class-action lawsuit that is bound to happen. Mylene Villanueva Lim, a mortgage professional at Dominion Lending Centres, said, “It is not so much the …

Rockwell Land forays into affordable housing

MANILA – Lopez-owned property developer Rockwell Land Corp. has acquired a 37-hectare property in Lipa, Batangas as it forays into an affordable housing segment. Divino Villanueva, Vice President for Affordable Housing, said the company would start construction of its first horizontal housing project next year, catering the mid-market and affordable segments. Villanueva expects to complete …

B.C. budget falls short of addressing affordability crisis: housing experts

VANCOUVER—Measures introduced in British Columbia’s provincial budget aimed at tempering Metro Vancouver’s red-hot real-estate market miss the mark when it comes to the underlying factors fuelling the housing crisis, say experts. B.C. Finance Minister Mike de Jong unveiled the province’s fourth consecutive surplus budget on Tuesday, which bumped up the exemption level for the property-transfer …

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