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Blog by Kevin Wong

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The World’s Richest Investors Are Increasingly Parking Their Money In Real Estate

September 30th, 2011
Rich buyers have remained active in luxury real estate, and some down markets have already returned to normalcy in the $1 million-plus range, according to an inaugural report by Christie’s International Real Estate.

While locations such as California, Florida and London have remained below average peak prices overall, the luxury property markets there are picking up a ...

Canadian Home Prices Hit Record Highs

September 29th, 2011
The Teranet-National Bank House Price Index, released Wednesday, showed prices have risen eight straight months in Canada. Overall prices are up 5.3% from a year earlier.

Prices rose 2.3% in Calgary, 1.7% in Toronto, 1% in Ottawa, 0.9% in Vancouver, 0.5% in Montreal, while declining 0.9% in Halifax. Five of the six metropolitan cities covered in the index hit record highs.

For Vancouv ...

Canadian Housing Market Grows Despite Global Troubles: Report

September 27th, 2011
Canada's housing market "remains a notable out-performer" in comparison to other countries, where renewed doubts about the strength of the global economy are weakening an already fragile real-estate scene, says a report released Tuesday.

The Bank of Nova Scotia said in an assessment of the global housing market that high unemployment, concerns over the financial health of some Euro ...

Metro Vancouver Industrial Space In Demand

September 27th, 2011

Demand for industrial real estate is surging in Metro Vancouver with nearly $37 million in transactions in the first half of the year, according to a report released Monday.

Avison Young’s Summer/Fall 2011 Vancouver Industrial Report concluded that the number of transactions reached its highest point in more than three years as the economy improved and buyers leveraged lower debt ...

‘Green Is Good’ The Mantra For Builders Of City’s New Office

September 26th, 2011

In the race to build multimillion-dollar commercial office buildings in downtown Vancouver, the prevailing mantra appears to be a new take on an old expression. Green is good.

The latest manifestation of a sustainable office building is being proposed by global financial giant Credit Suisse, which is jumping in with a $200-million plan to build a structure that will vie to be amo ...

Canadian Home Sales Hold Steady In August

September 16th, 2011
According to statistics1 released today by The Canadian Real Estate Association (CREA), national resale housing activity in August 2011 remained stable for the second consecutive month.

Highlights:
• Sales activity was stable from July to August, but posted another big year-over-year gain reflecting weakened demand last summer.
• Year-to-date sales pulled ahead of 2010 levels for the f ...

B.C. Home Sales To Slow This Year, But Price To Hit New High: Report

September 15th, 2011

VANCOUVER - Plans to remove the HST and return to a provincial sales tax mixed with the Goods and Services Tax will probably cause some homebuyers in British Columbia to delay purchases until 2013, Central 1 Credit Union forecasts.

The credit union's economist Bryan Yu said in a news release today: “People looking at new homes priced over $525,000 may very well wait until the tax ...

BCREA Housing Market Update - BCREA's Q3 Mortgage Rate Forecast (September 2011)

September 15th, 2011

REBGV: Housing Market Update August 2011

September 8th, 2011

West Vancouver’s Evelyn Real Estate Development Revived

September 7th, 2011

West Vancouver’s troubled Evelyn development has a new lease on life.

The 20-acre, 349-unit project, which has sat idle for nearly two years after its parent company, Millennium Development, defaulted on the $72-million mortgage, has been acquired by the Onni Group with the deal expected to close this week.

Onni said that means the $400-million project, whose default was linked ...

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