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2018 Vancouver Condo Foreign Buyers’ Tax Increase

February 22nd, 2018
Foreign Buyers’ Tax Increase.  Effective February 21, 2018, the foreign buyers’ tax (also known as the additional property transfer tax) has been increased from 15% to 20%.  This tax has also been extended outside of the Lower Mainland to include the Capital Regional District, the Fraser Valley, the Central Okanagan and the Nanaimo Regional District (though there will be a short grandfatherin ...

2018 Vancouver Condo Property Transfer Tax Increase on Residential

February 22nd, 2018
Property Transfer Tax Increase on Residential. Effective February 21, 2018, Property Transfer Tax on residential properties has been increased from 3% to 5% on the portion of the fair market value greater than $3,000,000.

2018 Speculation Tax for Vancouver Condos

February 22nd, 2018
New Speculation Tax.  In Fall of 2018, the Province will introduce a new speculation tax on residential property.  The tax will target foreign and domestic speculators who pay little or no income tax in British Columbia.  Primary residences and long term rentals will generally be exempted.  The tax will apply to the Metro Vancouver, Fraser Valley, Nanaimo and Capital Regional Districts, and K ...

Mega Debt - Crazy Gross Debt Services Ratios in Vancouver

June 12th, 2017
VanCity Credit Union published their 2017 report showing the most affordable and least affordable places to buy in British Columbia. Langley had the cheapest Gross Debt Services Ratio of only 18% meaning 18% of the total household income goes towards the mortgage. West Vancouver had the worst Gross Debt Services Ratio of 191% meaning 191% of the total household income goes towards the mortgag ...

Are the May 2017 Vancouver Condo Stats Showing a Correction?

June 8th, 2017

Ian Watt blogs about how the average sale price for a Downtown Vancouver condo dropped from $849,000 to $770,000 in one month as the higher end is starting to slow down.

Ian Watt: Hi good afternoon it’s Ian Watt in Downtown Vancouver. The May statistics are in and guess what? Time for changing so in April the average sale price of a condo in Downtown Vancouver with $849,000 and in May 20 ...

Low Interest Rates Make For Vancouver Fools

May 18th, 2017

Ian Watt blogs

about how super low interests rates are enticing to many young buyers but just because you qualify for larger payments doesn’t mean you should. The goal should be to pay off your mortgage in your lifetime. Unfortunately, in Vancouver the goal is to flip or cash out and downsize. However, this means the market has to continue going up at an unprecedented rate.

Ian Watt: Hi ...

The definition of the term "Housing Bubble" in regards to Vancouver Condos

April 5th, 2017
If you Google the the definition of Housing Bubble this is what you will find.

A housing bubble is a run-up in housing prices fueled by demand, speculation and exuberance. ... Speculators enter the market, further driving demand. At some point, demand decreases or stagnates at the same time supply increases, resulting in a sharp drop in prices — and the bubble bursts.

In the case of Vancouver c ...

WTF? Downtown Vancouver Condos Increase 40% in 2 Years ?

April 4th, 2017


Ian Watt video blogs about the average sale price of a Downtown Vancouver condo in March 2015 was $502,000, in March 2016 it was $648,000 and in March 2017 it was $720,000. If this crazy market continues at 20% per year that would make that March 2018 $861,000 and $1,030,000 in March 2019. This is not sustainable so how will increase the Vancouver prices stop? Plateau? Correction? Or Cra ...

Vancouver Condo Days on the Market For Active Units Not Sold

April 3rd, 2017

Ian Watt video blogs about how many people are talking about the average days on the market in 12 days in Downtown Vancouver. However, this is for units sold in Downtown, Yaletown, the West End and Coal Harbour but for active units that haven’t sold the average days on the market is 53 days.

Ian Watt: Hi good afternoon it’s Ian Watt in Downtown Vancouver. Please keep in mind when you see ...

Two Common Groups of Condo Buyers in Downtown Vancouver

March 27th, 2017

Ian Watt Vancouver Condo Real Estate Video Blog #766 - March 27, 2017

Ian Watt video blogs about who is buying in Downtown Vancouver in this hot 2017 market and from what we can find out its mostly  people with cash and highly leveraged people. As you can image people with cash are sitting pretty safe but highly leveraged people are at quite at risk to a market change as well as an increas ...

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