Naru Menon’s Blog
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19 assessed values of Metro Vancouver landmarks and major sites
BC Assessment's 2025 property assessments highlight significant non-residential property values in British Columbia, often overshadowed by residential trends. Notable assessed values include Stanley Park at $3.649 billion, Queen Elizabeth Park at $455 million, and the University of British Columbia campus at $7.618 billion. Other key properties include Hastings Park/PNE valued at $1.2 billion, Canada Place…
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5 Facts About 2025 Housing Market: Shocked by the Last?
1. 2025 may see a surge in housing demand: Lower rates and rule changes could overwhelm Canada’s housing market 2. New mortgage rules benefit high-end buyers: This shift offers smaller down payments for higher-priced homes.
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How Canada Can Reach Net Zero by 2050
Canada aims for net-zero emissions by 2050, but progress remains uncertain, especially in construction sectors. Developers face challenges balancing net-zero goals with affordable housing and resilient infrastructure demands.
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Typical Burnaby single-family home value hits $2M
The value of a typical detached home in Burnaby increased by four per cent, reaching $2 million, while the typical strata residential home remained unchanged at $732,000. This marks the second consecutive year of stabilization in the B.C. housing market. Homeowners can expect modest assessment changes between -5 per cent and +5 per cent. Changes…
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Rents Surge Globally: What’s Driving the Rise?
Renting costs are soaring globally in 2024, with many paying more than ever for properties they don’t own. Premium-priced rental property investments and rising mortgage rates intensified competition, further pushing rental prices upward.
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Lower Mainland 2025 Property Assessments Announced
The 2025 property assessments for over 1.12 million properties in the Lower Mainland have been released, reflecting market values as of July 1, 2024. Most homeowners can expect modest changes in assessments, ranging from -5% to +5%. The total assessments in the region have remained stable at approximately $2.01 trillion, with nearly $27 billion attributed…
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नॉर्दर्न BC रियल एस्टेट मार्केट नवंबर 2024 अपडेट
नवंबर 2024 में नॉर्दर्न BC के रियल एस्टेट मार्केट ने मजबूती दिखाई, जहां घरों की बिक्री में 20.2% की वृद्धि हुई और कुल 304 घर बिके। औसत घर की कीमत $418,495 हो गई, जो पिछले साल से 5.6% अधिक है। हालांकि, इन्वेंटरी में कमी आई, केवल 299 नई लिस्टिंग्स आईं, जो पिछले 35 वर्षों में…
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Sellers Rejoice: Canadian Home Prices to Increase in 2025
In 2025, Canadian home prices are forecast to ↑ 5%, signalling a seller’s market. Homes under $400K remain available in select regions, offering opportunities for first-time buyers.
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BC’s new 20% home-flipping tax takes effect January 2025
British Columbia's new home-flipping tax will take effect on January 1, 2025, targeting income from residential units sold within two years of ownership. The tax rate is 20% for sales within the first year, decreasing over the second year, with exemptions for primary residences owned for at least 365 days. Certain life circumstances may also…
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B.C. Market: Is a Year of Stability Ahead?
B.C.'s housing market in 2025 is expected to be balanced, with stable sales and prices.Lower borrowing costs should make mortgage payments more manageable for homebuyers in 2025.The main uncertainty for 2025 is the potential impact of U.S. tariffs and economic challenges.