‘We have a serious challenge with the availability of housing,’ says Squamish Mayor Patricia Heintzman Exemptions to the province’s speculation tax have some communities close to the Lower Mainland worried they might face an increase in foreign buyers and empty homes. The provincial government tweaked its speculation tax after criticism and it now only applies to properties left vacant in … Read More

New Ontario law fails to address buyers of new builds who are locked into equipment contracts Nadia Mendola didn’t think she’d be signing her life away for a water heater when she bought her brand new home in Waterdown, Ont., in 2016. She’s stuck with a 14-year rental contract with Enercare, paying $56.43 per month for the water heater. Now she … Read More

OTTAWA — The head of one of Canada’s largest banks is urging the federal government to stem the flow of investment capital from this country to the United States — because, he warns, it’s already leaving in “real time.” RBC president and CEO Dave McKay discussed some of his biggest concerns about Canadian competitiveness, particularly those related to recent U.S. … Read More

New property taxes outlined in BC’s 2018 budget are under fire for primarily affecting domestic homeowners in the province, Alberta and other parts of Canada, instead of targeting foreign buyers. According to a Royal LePage survey, nearly 91 per cent of real estate professionals said that BC’s new speculation tax — set to roll out in fall 2018 — will … Read More

A Chinese website that markets international property to buyers in the People’s Republic and elsewhere has just struck a partnership that could potentially expose 300 million new customers to real estate in Vancouver and other cities. Juwai.com, which describes itself as the “No. 1 Chinese international property portal,” has joined with Chinese online retailer JD.com, a competitor to Amazon, to market real … Read More