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Buyers stay on the sidelines amid shifting rates,
Western Investor · 16 Oct 2024 · Brian Yu
Housing market activity in the Lower Mainland sputtered again in September, even as affordability conditions started to improve for homebuyers. Despite lower mortgage rates, many prospective homebuyers are opting to stay patient, confident of further rate redu…
The proposed rental buildings are allowed under the Broadway plan
The Vancouver Sun · 14 Oct 2024 · David Carrigg
The Broadway Plan was approved in 2022 and applies to the area between Clark Drive and Vine Street from east to west, and from First Avenue to 16th Avenue from north to south. Its goal is to increase the population of the area by permitting much larger buildin…
B.C. can take four bold steps to tackle unaffordable housing head-on
Western Investor · 09 Oct 2024 · Gordon Cambell
Canada's housing problem is at a point of no return. Housing deficits grow each year by hundreds of thousands of units. Our ability to meet the needs of our citizens is eroding, as is our ability to fulfill the promises of a better life we once were able to pr…
Vancouver's AI surge a boon for real estate, says CBRE report
Business in Vancouver · 04 Sep 2024 · Jami Makan
Although it fell in this year's rankings, Vancouver remains a popular destination for tech talent, including artificial intelligence (AI) specialists, which will continue to support real estate market fundamentals, according to a new report from commercial rea…
Tower development on 295 Terminal land to house 3 tower development
The Vancouver Sun · 29 Aug 2024 · John Mackie
A proposal has been submitted to build three towers next to a future SkyTrain station on the False Creek flats in East Vancouver. The development beside the Great Northern Way-Emily Carr station includes two 35-storey rental housing towers and a 20-storey offi…
Eli Report is an online tool powered by artificial intelligence
REM · 06 Aug 2024 · Anthony Marcusa
A Vancouver-based startup is changing the way realtors and buyers assess condominiums and townhomes, making the process more efficient and transparent. Eli Report is an online tool powered by artificial intelligence (AI) that scans and summarizes condominium a…
Many of Vancouver's most fancy condos are selling at discounts
The Vancouver Sun · 11 Jul 2024 · Douglas Todd
At the similarly over-the-top Hotel Georgia, 14 units are listed. The 48th-floor penthouse was once put on sale at $35.8 million, now it's going for $20.8 million . In the neo-futurist Vancouver House, where Hutchinson says even storage lockers have sold for $…
Vacancy rate hits 9.7%, second straight quarter of increase
Western Investor · 03 Jul 2024 · BIV Staff
Metro Vancouver office vacancies are continuing to tick upwards as developers consider shifting their priorities mid-construction to hotels or residential. The region's overall office vacancy rate rose to 9.7 per cent in the second quarter of 2024, according t…
Vancouver council votes to densify upscale Shaughnessy neighbourhood
other · 20 Jun 2024 · Alyse Kotyk
The matter was discussed at another public hearing Tuesday, after council ran out of time to vote on the motion last week.(opens in a new tab) All eight councillors who were in attendance at the meeting voted in favour of the changes, which will amend the Firs…
Tight financing, sale conditions slow deal-making but interest is steady
Western Investor · 04 Jun 2024 · Peter Mitham
A precipitous decline in Metro Vancouver land sales last year could turn around this year, but developers are taking a long-term view with any purchases as market uncertainties continue. "Developers need to replenish some of their inventory; that's starting to…
Vancouver council open to increasing slots, table games at existing casinos
The Vancouver Sun · 10 May 2024 · Joanne Lee-Young
Vancouver city council voted this week to allow for applications to increase the number of slot machines and tables at the city's two casinos, on the condition they be accompanied by an assessment of their social and economic impacts. The request to amend the …
Vancouver considers more gambling at city's two casinos
The Vancouver Sun · 03 May 2024 · David Carrigg
The B.C. Lottery Corporation wants Vancouver to lift or amend its 13-year-old moratorium on the expansion of gambling in the city. According to the city's general manager of arts, culture and community services, Margaret Wittgens, there has been recent interes…
B.C. housing market showing signs of marginal improvement
Western Investor · 23 Apr 2024 · Bryan Yu
B.C.'s housing market saw a slight improvement in March as home sales nudged higher following a 5.9-per-cent decline in February. Sales increased 0.7 per cent to reach 5,866 unit sales. Home prices rose 1.8 per cent. This said, housing momentum has waned in th…