Three major changes have just been announced by the Department of Finance that will positively impact buyers! Effective Dec 15th, 2024: 1. Cap on insured mortgages increasing from $1M to $1.5M. – currently it’s not possible to buy for over $1M with less than 20% down. – with this change, it will be possible to…
New capital gains tax rules are in effect today June 25, 2024! These changes impact profits from selling assets like rental properties or stocks. What are the changes? The capital gains inclusion rate in Canada has risen from 50% to 66.7% for realized gains over $250,000 per year. To read more details click here.
Royal LePage just released its ‘2024 Most Affordable Canadian Cities‘ report. The report says half of residents in Canada’s largest urban centers are eyeing a move to more affordable real estate markets! The report highlights include: Thunder Bay tops the list of most affordable cities in Canada. Of the 15 most affordable cities in Canada,…
Confused about wat the new B.C. home flipping tax taking effect January 1, 2025 means to you, a Buyer? The BC home flipping tax webpage is your best source of information, and you can subscribe to the page to be notified about updates! Here are some scenarios for the tax that may help. Remember, the…
The federal Budget 2024, delivered April 16, 2024, proposes significant changes to the capital gains tax. When an individual, business or corporation sells an investment for more than they bought it for, the profit is capital gains. For example, an investment can include assets such as: a cottage or an investment property stocks bonds mutual…
New provincial short-term rental regulations came into effect today, May 1, 2024! The reg’s restrict short-term rentals to principal residences and either a secondary suite or what is know as an ‘accessory dwelling unit,’ such as a laneway house. For more details on B.C.’s short-term rental rules click here! Check out the interactive map…
Turning short-term rentals into homes for people is at the core of newly introduced B.C. legislation to regulate the rapidly expanding short-term rental market. “Anyone who’s looking for an affordable place to live knows how hard it is, and short-term rentals are making it even more challenging,” said Premier David Eby. “The number of short-term…
Interested to know more which cities property prices and valuations have fallen the most, where (further) corrections are imminent, and where price increases are continuing or could happen in the future? Check out the recent edition for UBS Global Real Estate Bubble Index 2023! Source of pdf and photo: UBS Insights
The Bank of Canada raised its overnight policy rate by 50 basis points, bringing it to 4.25 per cent, its highest level since 2008. In the statement accompanying the decision, the Bank noted that the Canadian economy continues to operate in excess demand with tight labour markets and as a result inflation remains elevated. There…
The Bank of Canada hiked its target for the overnight lending rate by 50 basis points to 3.75% while continuing its policy of quantitative tightening on Wednesday, October 26. Additionally, it was stated the policy rate could rise further given elevated inflation and inflation expectations as well as ongoing demand pressures in the economy. Following…
