Real Estate News in The Sea To Sky Corridor; BC for the Week of: December 18th – December 27th

Mission Group postpones Kelowna projects as market tightens

From Western Investor

A decline in demand for office space in Kelowna has hit one of the largest real estate developers in the city.

Mission Group has shelved two future projects for the time being and let a handful of staff go. Rising costs and declining revenue are blamed for the postponement of two high-rise residential towers until conditions improve. Read more…

‘Perfect storm’ of market conditions threatens Vancouver rental projects: CMHC

From Western Investor

A “perfect storm” of market conditions is threatening the delivery of rental housing in Vancouver and across Canada, according to the Canada Mortgage and Housing Corp. (CMHC).

Rapidly rising interest rates, high construction and government fees, as well as taxes and levies have complicated the financial feasibility of new rental projects, states a Dec. 18 report commissioned by the crown corporation. Read more…

Is Low Supply Keeping Canadian Real Estate Prices High?

From Remax Blog

A year ago, housing affordability dominated national conversations as the Canadian real estate market exploded in growth across major urban centres and rural communities alike.

This year, the conversation has ostensibly changed, with buyers, sellers, market analysts and industry experts discussing the path the Bank of Canada (BoC) will take in 2024 and immigration levels. Will the central bank cut interest rates next year or keep the policy rate higher for longer? How much will the immigration boom impact the Canadian real estate market? Read More…

RE/MAX® Canada Announces Partnership with Professional Women’s Hockey League

From Remax Blog

RE/MAX Canada is thrilled to announce a partnership with the Professional Women’s Hockey League (PWHL) for their inaugural 2024 season, which runs from January 1-May 5, 2024. This collaboration marks a significant step in the continued commitment to promoting inclusivity and supporting women in professional sports. Read more…

 

Now is a Great Time to Buy a Cottage

 

From Remax Blog

 

Do you remember the 2020-2021 cottage boom?

Well, if not, then it is likely because the entire Canadian real estate market was booming during the coronavirus pandemic amid a historically low interest rate environment.

However, during this period, the cottage industry was enjoying tremendous growth as many households were exploring many residential possibilities. Since families were working from home or studying remotely, there was a major urban centre exodus, allowing people to flee to rural communities and live inside a cottage or chalet on a permanent basis. Read more…

 

Sustainability: Zero-Carbon Housing

From Remax Blog

A carbon-neutral home is designed to produce as much renewable energy as it consumes, eliminating carbon emissions. These homes are not only a boon for the environment but also offer financial benefits by significantly reducing or even eliminating the need for external electricity, gas, and other utilities.

While the initial cost of building a carbon-neutral home can be high, it’s a worthwhile investment in the long run. The energy savings achieved over time can offset the upfront expense. With significant government incentives, the movement toward zero-energy homes in Canada is gaining momentum. Read more…