As part of this year’s provincial budget announced on February 22nd, the British Columbia government introduced three changes to the property transfer tax rules to improve housing supply and affordability. First Time Home Buyers’ Exemption Threshold Increased from $500,000 to $835,000 The increased threshold means that properties with a fair market value up to $500,000…
The introduction of British Columbia’s Home Flipping Tax in the 2024 provincial budget has sparked discussion in the real estate community, particularly regarding its potential impact on the housing market, especially in areas like Metro Vancouver. This measure, which imposes a 20% tax on profits from selling residential properties within a year of purchase, gradually…
The Federal Government’s recent announcement to extend the foreign buyers ban in Canada for an additional two years warrants discussion as to its efficacy and its impact thus far on our real estate market. As someone who closely follows real estate market developments, this announcement raises important questions about its implications for housing affordability and…