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Real Estate

Sidney implores B.C. to rethink real estate speculation tax

Sidney implores B.C. to rethink real estate speculation tax

The Town of Sidney is calling on B.C. to take a second look at its contentious speculation tax, warning that many longtime homeowners who contribute to the community are already planning to sell their properties.
B.C. speculation tax: Minister dismissed capital-gains tax

B.C. speculation tax: Minister dismissed capital-gains tax

B.C.’s finance minister considered taxing the capital gains of real estate speculators but decided it would do little to improve the tight rental market in the province’s biggest urban centres like Vancouver.
New B.C. property taxes will add costs for homebuyers, critic says

New B.C. property taxes will add costs for homebuyers, critic says

B.C.’s new property taxes — including the revised speculation tax — will add layers of additional costs for buyers of new homes, says a spokeswoman for Victoria’s development industry.
Province announces tipline to report real estate misconduct

Province announces tipline to report real estate misconduct

There is now a way for the public to report shady real estate deals. The Real Estate Council of British Columbia Thursday announced the launch of an anonymous tipline “to enhance consume protection in British Columbia’s real estate market.
Benchmark price for home rises to $840,300 in core

Benchmark price for home rises to $840,300 in core

Greater Victoria home prices hit record levels last month as demand stayed strong and inventory remained tight. Benchmark price for a single-family house in Greater Victoria reached $710,500 in February, up by 10.
North Saanich home sells for $9 million

North Saanich home sells for $9 million

A Calgary couple has spent $9 million to acquire a two-acre waterfront estate in North Saanich, making it the highest price for a home sale through the multiple listing service in that municipality.
Buyers rush into real estate to beat mortgage stress test

Buyers rush into real estate to beat mortgage stress test

New mortgage rules that came into effect Jan. 1 are likely behind the surge in home-buying activity toward the end of 2017, according to the Victoria Real Estate Board.
Real-estate assessments on Island skyrocket

Real-estate assessments on Island skyrocket

Assessed values for condominiums have increased 15 to 35 per cent from the previous year in urban areas of Vancouver Island, according to new data from B.C. Assessment.