MORE REAL ESTATE NEWS

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  Uptick in Vancouver home sales last month caps 'pivot year' for market: board

  Greater Vancouver home sales rose 31.2 per cent on a year-over-year basis in December, capping a "pivot year" for the market where the number of homes that changed hands in the region ticked higher.

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  Chip Wilson's mansion once again tops the list of B.C.'s most expensive homes

  Lululemon founder Chip Wilson's waterfront mansion remains the most expensive residential property in B.C., according to the British Columbia Assessment Authority.

• B.C. property values flat across most of province, but affordability remains elusive

  British Columbia's latest property assessments show values remain generally flat compared to the previous year, but researchers warn the numbers don't herald housing affordability in the famously expensive province.

• Site of former Buddhist monastery in southern B.C. listed for $3M

  The site of a former Buddhist monastery and spiritual retreat in southern British Columbia has been listed for sale at just over $3 million.

• 'Cash poor' businesswoman is worth at least $20M, can pay off mortgage debt, B.C. court rules

  A Vancouver businesswoman who claimed to be too "cash poor" to pay off a roughly $3 million mortgage debt – despite having claimed a net worth in excess of $94 million as recently as 2018 – has been ordered to pay up.

• Vancouver man defrauded Chinese developers of US$500K, court rules

  A Vancouver man has been ordered to pay more than US$500,000 after a B.C. Supreme Court judge found he had defrauded the would-be developers of a real estate project in China of that amount.

• 'We're sending a clear message': B.C. prepares for home flipping tax amid criticism

  Next week, when the calendars turn to 2025, the provincial government will begin imposing a 20-per-cent tax on all profits if a home is sold within a year of purchasing it.

• B.C. man who flipped 14 homes in four years is fined $2M for tax evasion

  A serial property flipper in British Columbia has been convicted of tax evasion and fined more than $2 million for failing to report nearly $7.5 million in earnings.

• B.C. Supreme Court certifies class-action lawsuit against Airbnb

  The B.C. Supreme Court has certified a class-action lawsuit against Airbnb that alleges the short-term rental company has breached provincial consumer protection laws by offering unlicensed real estate brokerage and travel agent services.

• Bank of Canada interest rate drop good news for mortgage holders

  A major cut to the Bank of Canada’s key interest comes as welcome news to realtors and those holding variable rate mortgages – but it also signals a growing sense of uncertainty about the broader Canadian economy.

• Investors made up 25% of B.C. homebuyers in new StatsCan analysis

  Real estate investors made up approximately one-quarter of homebuyers across B.C. between 2018 and 2020, according to a new analysis from Statistics Canada.

• New data sheds light on property flipping in B.C.

  With B.C. poised to introduce a flipping tax, new data from Statistics Canada is shedding light on how many homes are bought and rapidly re-sold – and how profitable the venture has been.