Naru Menon’s Blog
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B.C. Expands Housing Options: Zoning Changes
British Columbia granted extensions to 21 local governments for updating zoning bylaws and infrastructure improvements.The zoning changes aim to allow more row homes, triplexes, townhouses, and secondary units across communities.
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BC Homebuyers Can Save $400 Monthly With New Plan
The federal government is implementing mortgage reforms by December 15, 2024, enhancing affordability.Monthly payments for average homes in British Columbia could decrease by approximately $400 with the new plan.
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Densification: The Solution to BC’s Housing Shortage
The BC NDP plans to build 300K middle-class homes over the next 10-yr. This goal is a significant upgrade from the original 114K homes promised in 2018.
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Burnaby Considering Development Framework Based On Height Instead Of Density
Burnaby City Council is considering a policy change to simplify development regulations by moving from a density-based framework to a height-based one. This aims to streamline approvals and improve building design quality by determining development potential based on building heights and setbacks instead of the complex floor area ratio. This proposal is part of a…
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British Columbia ka commercial market kaisa chal raha hai?
British Columbia ka commercial real estate market 2024 ke shuru mein mushkilon ka samna kar raha tha, jismein tight financing, interest rate cuts aur capital gains taxation mein badlav shamil the. Bade banks ki lending mein sakhti ke karan sales mein slowdown aaya, jabki high office vacancy rates ne landlords ko naye properties kharidne ke…
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BC Reveals New Housing Goals as Cities Lag
B.C. municipalities have been tasked with building over 60,000 homes in five years, but many are falling behind. Since the housing targets were set, more than 4,000 new homes have been built across the province.
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B.C. Rent Increase Drops to 3% in 2025
BC's legal rent increase for 2025 is set at 3%, down from 3.5% in 2024. The rent cap continues to be tied to market inflation through the Consumer Price Index.
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Election Spotlight: B.C.’S Rising Insurance Rates
Skyrocketing home insurance rates are a significant election issue in British Columbia. Unprecedented climate events have led to a 93% rise in weather-related insurance claims over the past decade.
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BC Considers $3K Fines for Short-Term Rentals
Union of BC Municipalities proposes raising short-term rental fines to $3K daily. Current maximum fine for violations is $1K/day, proposed increase to $3K.
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Greater Vancouver’s Condo Market Sees Surprising Resilience!
Greater Vancouver saw a 7.3% increase in condo inventory as sellers return to the market in 2024. Fraser Valley condo inventory surged by 58.7%, with a slight 1.9% rise in average prices.