Real Estate

Oakville, Ont., council rejects bid to demolish Glen Abbey despite heritage status

OAKVILLE, Ont. —  An Ontario town council has voted unanimously to reject a plan to demolish the historic Glen Abbey golf course despite its heritage status. Glen Abbey’s owner ClubLink filed an application Monday to demolish or remove the golf course and some buildings to make way for a mix of homes, offices and stores. …

Congress mulls amendment of REIT law

MANILA — The House of Representatives may push for the amendment of the Real Estate Investment Trust (REIT) Act, Representative Arthur Yap said Monday. During the real estate market briefing of Leechiu Property Consultants (LPC), Yap said the lower house may opt to amend the REIT law and specify that the transfer of assets into REITs …

Canadian snowbirds will face higher insurance costs even if unscathed by Irma

MONTREAL — Canadian snowbirds who were lucky enough to escape property damage from hurricane Irma will still face higher costs as insurance providers jack up premiums and condo associations levy special assessments, say Florida insurance experts. “We’re probably looking at across-the-board 15 to 20 per cent increase in property insurance costs over the next year,” …

New eviction rules in effect today to protect Ontario tenants

TORONTO— New tenant protections come into effect today that place more requirements on landlords evicting them. When a landlord evicts a tenant to use the unit themselves or for a family member, they have to now give the tenant one month’s rent as compensation. Alternatively, the landlord could offer the tenant another acceptable rental unit. …

Sunvar to obey court order to vacate Mile Long property

MANILA – Real estate firm Sunvar Realty Development Corporation, owned by the Rufino and Prieto families, will comply with the Makati City Regional Trial Court (RTC) order to vacate the 2.9-hectare Mile Long property in the city. Sunvar legal representative Atty. Alma Mallonga, however, said that they will appeal the court’s decision. “While Sunvar has appealed the …

Makati RTC orders SunVar to vacate Mile Long property

MANILA – The Makati City Regional Trial Court on Tuesday ordered the Sunvar Realty Development Corporation, a real estate firm owned by the Rufino and Prieto families to vacate the 2.9-hectare Mile Long property in Makati City, Solicitor General Jose C. Calida said on Tuesday Calida said the Court of Appeals Resolution dated Aug. 14, …

6th PropertyGuru Philippines Property Awards opens nominations

MANILA, Aug. 3—  Nominations for the 6th PropertyGuru Philippines Property Awards, the country’s biggest real estate awards program, opened Thursday until Feb. 16, 2018. In a press briefing in Makati City, PropertyGuru Asia Property Awards Managing Director Terry Blackburn said the 6th PropertyGuru Philippines Property Awards added two new recognition for commercial development and three …

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 …