There is 1% Property Transfer Tax (2% over $200,000) in B.C. This tax is payable on the purchase of all real property in B.C. The calculation is based on 1% of the purchase price up to $200,000 and 2% of any amount above $200,000. Most first time buyers are exempt from this if they meet certain criteria. The main criteria are:
a borrower has never owned a principal resid ...
The Vancouver Sun - November 15, 2006
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With Vancouver’s real estate market leading the country in average single family home prices, many buyers today are looking for homes with rental suites to minimize their overall monthly housing obligations.
Many of these purchasers have good sized down payments, but they do require the use of the rental suite income to quali ...
Highlights include:
Housing Starts
- Forecast to rise 11% this year to 21,000 units driven by an increased supply in the Fraser Valley, and to ease off by 3% in 2007 making it still the third highest on record.
Building Costs
- Expected to rise at an annualized 10 to 12%. Coupled with relatively low i ...
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