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New-housing construction is expected to decline for the next two years according to the report prepared by the research firm Altus Group.  The decrease is influenced by the higher interest rates, new tax measures and a slowing economy. According to Vancouver Sun the report estimates that housing starts in B.C. will fall to 37,475 units in 2019 and further to 36,925 in…

According to Vancouver Sun some of the multi-million dollar homes in Vancouver have been rented for a relatively cheap price as a result of the empty home tax. Read a full article how Speculation, Vacancy, and Empty Home Tax influence a drop in a rental price here. See also: Exempt From the Speculation Tax Declaration Resource: Vancouver Sun Rate This Post

The purpose-built rental buildings are excluded from the definition of residential property under the Speculation and Vacancy Tax Act, and exempt from the tax. But the owners still need to file a one-time declaration for the exemption. The deadline to file for the exemption is March 31, 2019. Learn more about the update at LandlordBC website or visit speculation and vacancy tax website. Rate…

Early this year, British Columbia rolled out a new property tax. But this property tax isn’t singling out the local BC population, but actually out-of-province owners instead. Indeed, the government plans to tax vacation homes where the government is expected to send big bills to those properties. The reason this has come about was due to this years budget. Specifically…