B.C. homeowners who are weathering the storm of high mortgage payments may have to brace themselves for more financial pressure.

Home insurance prices increased by 7.63 per cent between January 2023 and January 2024, with further rises in prices expected throughout this year, according to insurance comparison website My Choice Financial Inc. Read more…

Ottawa says its housing deals with cities will build 750,000 homes in the next decade

The Pique News Magazine

OTTAWA — The Liberal government has finalized all of its deals with municipalities under the housing accelerator fund, a program it says has triggered Canada’s biggest-ever movement to increase residential density.

Housing Minister Sean Fraser announced Monday the federal government has signed 179 housing deals via the $4-billion housing accelerator fund. Read more…

What is a Foreclosure?

Remax Blog

How many economists and market analysts anticipated the Canadian real estate market would experience a crisis when the Bank of Canada (BoC) announced it would begin raising interest rates? Roughly two years later, the nation’s housing market has remained intact, although there have been pockets of weakness across the country.

But the current housing landscape has been short of foreclosures, delinquencies, and price crashes. Read more…

The Ultimate Guide to Buying Land for Sale in Canada

Remax Blog

Buying land, like any significant purchase, can seem daunting if you’ve never done it before and don’t know the rules of the game. As a commercial real estate investment strategy, you can buy a plot during a dip and sell it when the market rebounds, hold it and hope for an even bigger pay-off further down the road, or develop it for your commercial purposes.

No matter how you want to use it, when it comes to buying land for sale in Canada, the importance of doing due diligence before you sign on the dotted line can’t be overstated. Read more…

Interest Rate Announcement: “Too Early to Loosen Restrictive Policy”

Remax Blog

The Bank of Canada has held its benchmark interest rate at 5%, marking the fifth consecutive pause after a tightening campaign in 2023 aimed at easing high inflation. It appears to be working, with the inflation rate easing back to 2.9 per cent in January, however underlying price pressures persist.

“We’ve come a long way in our fight against high inflation. . .but it’s too early to loosen the restrictive policy that has gotten us this far,” said Bank of Canada Governor Tiff Macklem, at the press conference opening statement. Read more…

Is Hotel Investment a Smart Move?

Remax Blog

Looking to diversify your commercial real estate portfolio? Now could be the moment to explore opportunities in Canada’s hospitality industry, particularly the hotel sector.

After suffering huge losses due to travel restrictions and lockdowns during the COVID-19 pandemic, the hotel industry in Canada has notched a recovery that few thought was possible. When restrictions were finally removed in October 2022, pent-up demand for leisure travel resulted in the hotel industry recording its highest-ever occupancy rate, average daily room rate (ADR) and revenue per available room (RevPAR) in 2023, surpassing even heady pre-pandemic levels recorded in 2019. Read more…

Maximizing Your Investment: The Benefits of Renting Warehouse Space for Your Business

Remax Blog

The good news? Business is off the charts. The bad? You’re running out of space for equipment, goods and staff.

Whether you’re a tech start-up with ten desks setting a course for fifty in a few short years or an e-commerce entrepreneur wondering if it’s time to expand and replan your fulfillment strategy for more profit, renting commercial real estate warehouse space could help you scale your operations and manage growth and inventory more efficiently. Read more…

Planning a Home Addition? Key Things to Know Before You Begin

Remax Blog

When you’re thinking about adding on to your home, good planning is key. You’ll need to tackle a few challenges head-on, like getting to know the zoning laws, setting a realistic budget, designing something that blends well with your house, and picking the right contractor for the job.

By laying a solid foundation in the early stages, you ensure that the process, from concept to completion, is well-managed and successful. Let’s explore what you should be mindful of when embarking on a home addition project. Read more…

5 Affordable Markets to Buy Real Estate Close to Vancouver

Remax Blog

Housing affordability may be the hot-button issue across Canada. British Columbia is not immune to the same pricing issues, especially as interest rates hover around their highest levels since before the Global Financial Crisis, making housing more out of reach for many buyers. This is particularly the case with Vancouver real estate, where prices are about 40 per cent higher than the provincial average. Read more…

Stay tuned for next week!