Real Estate SnapShot

Part of B.C.'s maximum allowable rent formula eliminated

(September 29, 2018)

The first domino has fallen.

A rental housing task force struck by British Columbia’s provincial government has repealed part of the maximum allowable rent increase formula landlords use, sparking fears that waning revenues will plunge their buildings into disrepair and discourage further investment in purpose-built rentals, of which there’s a dearth.

Under the old formula, landlords charged 2% plus... read more.

Landlords concerned government will leave them out in the cold

(September 24, 2018)

Amid consultations over rental housing initiated by the British Columbia government, landlords worry that the current formula used for maximum allowable rent increases could be rescinded.

Under the Residential Tenancy Act, the formula is 2% plus CPI—which, for 2019, will be 4.5%—however, according to LandlordBC, operating costs have vastly outpaced rental income and scaling back the formula could h... read more.

Commercial real estate sales down, prices up in the Lower Mainland

(September 13, 2018)

The commercial real estate market in the Lower Mainland continued to see fewer transactions in the second quarter (Q2) of 2018 compared to recent years.There were 569 commercial real estate sales in the Lower Mainland in Q2 2018, a 16.3 per cent decrease over the 680 sales in Q2 2017, according to data from Commercial Edge, a commercial real estate system operated by the Real Estate Board of Great... read more.

Commercial sector shows promise in Q2

(September 12, 2018)

by Bloomberg
by Natalie Wong
Canadian commercial real estate investment reached new heights in the second quarter, boosted by a pair of big acquisitions and by the lure of attractive, income-producing property.Transactions reached C$16.5 billion ($12.5 billion). That’s 38 percent more than the previous record, set in the first quarter of last year, and more than twice the five-year quarterly average... read more.

August Home Sales Suggest Impact of Stress Test Fading

(September 12, 2018)

Vancouver, BC – September 13, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 6,743 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in August, a 26.4 per cent decrease from the same month last year. The average MLS® residential price in BC was $669,776, down 1.2 per cent from August 2017. Total sales dollar volume... read more.

Maximum allowable rent increase set for 2019 at 4.5%

(September 10, 2018)

Based on the B.C. Consumer Price Index and the formula for rent increases in British Columbia, the maximum annual allowable rent increase will be 4.5% in 2019.B.C. landlords can choose to increase rent once annually. The maximum percentage increase allowed each year is the inflation rate plus 2%. The inflation rate, calculated using the 12-month average percentage change in the Consumer Price Inde... read more.