Tag Archives: vancouver

International speculators play Vancouver’s real estate market through subprime mortgage lenders avoiding foreign buyer tax

By Amy Chen International speculators are gambling on Vancouver’s real estate market without having to pay the 15% foreign buyer tax by investing in subprime mortgage lenders, who in turn offer high-interest mortgages to Canadians to buy homes. Wealthy investors

CIBC playing dangerous game by financing the flippers

By Amy Chen Shuyang Ling and Xuhong Ying of West Vancouver bought the property at 1195 Sutton Place for $2.7 million last September and are now trying to flip it for $5.4 million. They purchased the property with a little

Foreign buyers snap up Vancouver homes to run illegal Airbnb hotels despite tax

By Amy Chen Foreign buyers are still snapping up homes in Vancouver to turn them into illegal short term rental hotels on Airbnb and other platforms despite the 15% foreign buyer tax imposed last year, an analysis of short term

Homes sell for well below asking as Metro Vancouver market slumps

By Amy Chen Homes are selling in Metro Vancouver for up to 20% below asking as the housing market continues to tumble, according real estate sales data. ThinkPol analysed a random sample of 54 detached house sales in Vancouver, West

Judy Graves vows to slap 50% Flipping Levy on Vancouver real estate speculators

By Amy Chen A former homeless advocate running for a council seat in Vancouver has pledged to slap a 50% Flipping Levy on real estate speculators on the city. The Flipping Levy is just one of the measures announced by

Investors dumping Metro Vancouver homes at a loss as bubble bursts

By Amy Chen Investors who bought homes in Metro Vancouver last year at the height of the bubble are dumping them at a loss to flee the market in a hurry as prices continues to tumble, recent sales listings show.

West Vancouver house prices stumble as Beijing hails currency crackdown a success

By Amy Chen West Vancouver house prices fell in August as China’s government declared its crackdown on illegal foreign currency outflow a success. Metro Vancouver’s most expensive community’s benchmark price dropped by 4.8% overall to $1,346,400 compared to August 2016[1]REBGV

Vancouver: A soulless city of heartless lords and hapless serfs

By Joyce Yip The name Anoop Majithia drives fear into the hearts of renters who live in his real estate fiefdom in Vancouver. Soon after taking possession of the apartment block at 1168 Pendrell St in 2014, Majithia’s company Plan

Realtors cashing in on Canada’s housing affordability crisis, reports show

Realtors are earning record profits from surging house prices contributing to the nation’s housing affordability crisis reaching “dangerous” levels, two recently released reports show. Operating revenue for the real estate agents and brokers industry group grew 10.8% from 2013 to

Removing viaducts benefits developers − not the average resident, seven in ten Metro Vancouverites say

A large majority (71%) of Metro Vancouver residents believe that the recent decision by Vancouver City Council to remove the Georgia and Dunsmuir viaducts only benefits developers, and not the average resident, a new poll has found. An even larger