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B.C. Budget 2024 prioritizes spending, affordability, and housing, tackling a $7.9 billion deficit. Housing initiatives, backed by $2 billion federal funding, include BC Builds and a flipping tax.

AI Adoption: Real Estate firms are embracing AI for faster decisions and data-driven insights.Operational Real Estate: Investments in properties like hospitals benefit from steady demand.

British Columbia's government is leading a new public development project on Vancouver Island to create affordable housing near transit. The province purchased land for the Uptown development in Saanich, planning to build hundreds of homes, retail spaces, and amenities like child care. The government aims to ensure that people who rely on transit can live…

Sales activity in BC is expected to rebound, ↑ 10.2% in 2024, followed by ↑ 7.1% in 2025. Home prices are forecast to rise, ↑ 2.3% in 2024 and ↑ 2.9% in 2025.

Improvements are coming to the SAFER program in the province, with a one-time rental benefit of $430 for families and seniors with low incomes. Existing recipients will automatically qualify for the benefit and see an increase in their monthly subsidy. Other changes include an increase in income limit, minimum benefit, and annual review of rent…

Increase for high earners: After June 25, 2024, capital gains tax increases for profits exceeding $250,000.The $250,000 threshold applies to individuals, including gains through partnerships or trusts.

1. Address any unresolved debt and work on improving low credit scores 2. Discuss savings and establish a budget 3. Pre-approval sets a realistic budget and boosts offer strength 4. Improve credit scores before house hunting

Builders applaud budget's housing emphasis, particularly first-time buyer relief and rental incentives. First-time buyers benefit from increased property transfer tax threshold, aiding 14,500 potential homeowners.