Naru Menon’s Blog
-
BC Speculation and Vacancy Tax Deadline Approaches
Homeowners in specific BC areas with residential properties must declare their usage by March 31st. Who to declare: – Anyone owning property in areas subject to the tax, even if exempt. Purpose: – Combat housing speculation and increase available homes.
-
Metro Vancouver commercial real estate continues to stabilize
Optimism for Metro Vancouver's real estate market is currently low, with a slow first quarter. However, increased activity is expected in the second half of the year due to anticipated interest rate cuts. The market is waiting for key announcements from the Bank of Canada, with hopes for more deals and a better understanding of…
-
BC Real Estate Poised for 2024 Rebound
Lower mortgage rates and potential interest rate cuts fuel optimism. Unit sales are predicted to ↑ 8% through 2024.
-
Renewing Your Mortgage in 2024? Here’s How To Prepare
As homeowners face mortgage renewals at higher rates due to the Bank of Canada's unchanged interest rates, it's advised to expect payment increases. Negotiating with lenders, exploring other options, and being cautious about re-amortizing are recommended. Choosing a mortgage term without relying on potential rate cuts is suggested, and being proactive in the renewal process…
-
B.C.’S Housing Costs to Ease With Interest Rate Cuts on Horizon
BC housing costs are expected to rise at a slower rate due to anticipated Bank of Canada interest rate cuts.Economists forecast interest rate decrease to 3.5% by Q4 2024, easing housing costs.
-
Happy Women’s Day
International Women's Day, also known as IWD for short, grew out of the labour movement to become a recognized annual event by the UN.It all started in 1908 when 15K women marched through NYC demanding shorter working hours, better pay and the right to vote. Things were made official in 1975 when the United Nations…
-
B.C. Boost: $1.3M Accelerates North Shore Housing
Funding Allocation: The province grants over $1.3 million to North Shore municipalities for housing acceleration. Allocation Breakdown: City of North Vancouver receives $431,057, District of North Vancouver gets $563,354, and District of West Vancouver obtains $350,807.
-
Ottawa invests $25M to fast-track more Coquitlam housing units
The federal government has announced $25 million to help Coquitlam address its housing crisis. The funding will fast-track the construction of over 650 housing units and support seven projects. The money will be used for various purposes, including redeveloping underused sites, incentivizing affordable rental housing, and cutting parking requirements. Coquitlam Mayor Richard Stewart expressed gratitude…
-
BC Property Values Surge in 2024
Property values surged from $45M to $81.7M, nearing $82M, a remarkable increase. The top-valued properties include a home on Belmont Avenue at $70.4M and James Island at $57.9M.
-
B.C. Rental Protection Fund spends $71M on co-op housing
Premier David Eby announced the first purchase using the Rental Protection Fund, which will save 290 affordable rental units in two housing co-ops in Coquitlam. The government's fund will contribute $71 million towards the $125 million acquisition by the non-profit Community Land Trust of B.C. The fund aims to preserve affordable homes in the midst…