Author: admin
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New Listing: 3482 WALES AVENUE
Explore this executive-style custom-built home on a quiet Cul-De-Sac in the heart of Burke Mountain. This house is one-of-a-kind. Upon entry, you will be greeted by a grand interior double staircase, a 20ft high ceiling and magnificent south views of the valley, an open floor plan with a bright kitchen, dining, family room, formal living,…
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Immigrants Favour Urban Home Ownership in Metro Vancouver
Immigrants in Metro Vancouver tend to prefer living in the city, with 72% residing there. Safety, affordability, and access to public transportation are key factors that immigrants consider when choosing a neighborhood. Immigrants are more likely to prioritize living around people of the same ethnic group or country of origin compared to longtime residents.
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Metro Vancouver Market Trends and Predictions
Some sellers aim to profit by reselling pre-sale units they never intended to occupy. Difficulty in closing pre-sales can lead to discounted assignment sales. More assignments are entering the market than six months ago.
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City of Vancouver to relax rent limits to push approved projects to construction
The Moderate Income Rental Housing Pilot Program (MIRHPP) was created in 2017 to provide affordable rental housing to households with annual incomes between $30,000 and $80,000. 16 projects with a combined total of 2,975 rental homes, including Molnar Group's Renfrew Apartments, have been approved under the MIRHPP stream. However, due to rent limits that do…
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Vancouver Adjusts Housing Policies for Growth
Vancouver plans to adjust its 2017 MIRHPP and Below-Market Rental Policy to stimulate affordable housing construction.Under MIRHPP, 16 projects with 2,975 rental homes were approved; only nine are in construction. The changes aim to help Vancouver reach its new target of nearly 29,000 homes by September 2028.
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New Listing: 61 1338 HAMES CRESCENT
Farrington Park by Polygon Townhomes is a family-friendly community located in Coquitlam's Burke Mountain, just steps away from Galloway Park. It is also close to schools, shopping centers, parks, trails, and recreational facilities. This 3-bedroom, 2-bathroom home has a South Exposure and features a flexible open play layout, warm laminate wood flooring, and a gourmet…
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We don’t need to further subsidize wealthy homeowners in Metro Vancouver
Metro Vancouver is proposing changes to its fee structure, which will widen the gap between housing haves and have-nots. This includes an increase to cost charges on new developments, and a shift to a more “growth pays for growth” approach, where most of the fees go towards new developments rather than existing households. This is…
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Vancouver Approves Controversial Missing Middle-Density Plan
Vancouver City Council approves a "missing middle" housing motion to encourage multiple dwellings on residential lots. The motion permits up to 6 homes on single-family lots and up to 8 homes on larger lots. Vancouver aims to reduce floor space requirements to encourage laneway homes.
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Fall 2023 Realtor Forecasts for Vancouver Market
Despite rate hikes, Vancouver's avg prices remain stable. Fall market influenced by investors exiting due to rate hikes and rental increase limits, causing a significant market shift.Usual life events, not market frenzy, fuel property transactions in the fall, reflecting a balanced market.
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$108 million in federal financing for new Oakridge rental housing in Vancouver
The federal government has announced that it is providing Marcon Developments with $107.5 million in fully repayable low-interest loans through the Rental Construction Financing Initiative for a major secured purpose-built rental housing project in Vancouver's Oakridge area. This will enable Marcon to construct two towers with a total of 426 rental homes, including 215 market…