My opinion is to purchase condo or apartment properties rather than single house or town house. The major reason is the ROI (return of investment) for buying a condo for rent is much higher, considering the house price is much higher in Vancouver west side and/or Downtown Vancouver and/or Richmond. But it’s up to you to rent a furnished apartment or not. The rental price will be around $200 to $300 higher than those unfurnished condo.

Please feel free to contact Angel for your next property investment.

© Angel Wang | Top Real Estate Agent Vancouver Blog, 2010. | Permalink | One comment | Add to del.icio.us
Post tags: apartment, condo, furnished apartment, home rental, property invest, single house, unfurnished condo

© Angel Wang | Top Real Estate Agent Vancouver Blog, 2010. | Permalink | No comment | Add to del.icio.us
Post tags: canada immigrant, real estate investment, vancouver real estate

© Angel Wang | Top Real Estate Agent Vancouver Blog, 2010. | Permalink | No comment | Add to del.icio.us
Post tags: buy home, home buyers, luxury real estate, real estate buyers, vancouver real estate, vancouver west

People here in BC had talked or complained about this new tax a lot since the day it’s announced back in Summer 2009. Now is the time to start preparing for this change, no matter what. As a rule of thumb, the GST rules that now apply to residential property will also apply under the HST.

New rules about HST housing rebate:

Buyers of new homes will be eligible for a rebate of 71.43% of the provincial portion (7% of the HST’s 12%) of the HST paid on the new home up to a maximum rebate of $26,250. Homes prices at more than $525,000 will be eligible for a flat rebate of $26,250.

The rule is pretty straight forward. But that new rebate of the provincial portion will be for primary residence purchase only. Or if you are a residential property developer or builder, you may qualify for up to $8,663 rebate.

When everybody is talking about the New rebate, people almost forget the Old one. That is the Federal GST new housing rebate, which is 36% of the tax paid on the first $350,000 of the home price. The GST rebate is phased out for homes priced between $350,000 and $450,000.

Here is an example of you buying a new home valued at $1,000,000. If you purchase it now you will get no tax rebate from either BC government or Federal government. And you will pay 50,000 GST. If you purchase it on or after July 1, you will be qualified for $26,250 new housing rebate. But you will pay $120,000 HST.

That’s a big difference! Especially for my potential clients who will most likely invest in properties in Vancouver west side, West Vancouver. Because the housing price is rarely go below $1,000,000 when you invest in single house in those areas.

Another interesting thing about this new housing rebate is…

There is an enhanced provincial New Rental Housing rebate. If you construct or substantially renovate a residential property to rent to tenants, you will be eligible for a rebate up to $26,250 on units priced up to $525,000. There is a flat rebate of $26,250 for units priced above $525,000.

So the interesting thing is: you will not be eligible for any housing rebate if you buy a new property which is not your principal residence and you don’t rent it.

But, if you buy a new rental apartment building and rent all of the units, you will be eligible for a New Rental Housing Rebate for each unit up to a maximum rebate of $26,250 per unit.

Of course, there are always some conditions apply that you want to double check with BC government about new HST rules.

And actually the new HST rule won’t just impact on new home price. Because the overall housing market value, including those previously built homes, will be adjusted to a higher level when the new HST rules apply.

© Angel Wang | Top Real Estate Agent Vancouver Blog, 2010. | Permalink | No comment | Add to del.icio.us
Post tags: BC, house price, housing rebate, HST, residential properties

Canada Mortgage and Housing Corp. said Monday the number of seasonally adjusted housing starts were up 5.9 per cent from November, to 174,500 units. Most economists had expected an increase of between 160,000 and 165,000 units in December, following an upwardly revised 164,800 starts the previous month.

According to CMHC data, urban starts were up 6.6 per cent to 157,100 units in December, CMHC said in its report. Multiple-unit starts totalled 77,700 during the month, up from 72,800 units in November, while single-unit starts totalled 79,400, up 6.4 per cent from the previous month.

Urban construction was up 17.8 per cent in Quebec, 15 per cent in Atlantic Canada, 8.7 per cent in British Columbia and 2.9 per cent in Ontario, the report said. In the Prairies, urban starts declined 3.8 per cent.

Rural starts were unchanged at 17,400 units.

The Bank of Canada may shed further light on whether that strength has pushed Canada into a housing bubble when one of the governor’s advisers talks about the real estate sector in a speech Monday afternoon in Edmonton.

Meanwhile, Statistics Canada said Monday the value of building permits fell in November by 4.6 per cent from the previous month to $5.9 billion. Still, that was 23.1 per cent higher than November 2008 and 62.8 per cent higher than February 2009. The decline was due to a drop in the non-residential market, which offset increases in the residential real estate market.

© Angel Wang | Top Real Estate Agent Vancouver Blog, 2010. | Permalink | No comment | Add to del.icio.us
Post tags: BC, canada real estate, house price, non-residential real estate, real estate, residential real estate

For further inquires about how to select and build your own house, please contact Angel directly.

© Angel Wang | Top Real Estate Agent Vancouver Blog, 2009. | Permalink | One comment | Add to del.icio.us
Post tags: build own house, buy real estate, Greater Vancouver, home buyers, vancouver real estate

Various indicators paint a rosy picture of the property market activity in Vancouver. Housing sales in the January-August period are about 14 per cent higher than in the same period last year. Yet, this compares to an expected decline in housing sales of nearly 15 per cent in the country as a whole. In fact, the home sales rebound in Canada, forecast for next year, will be driven primarily by a robust recovery in sales in British Columbia and Alberta, with the Vancouver area leading the way. Increased housing demand, especially given limited inventory levels, will put an upward pressure on prices, making investments in real estate in Vancouver highly desirable.

In fact, inventory levels in Vancouver have already fallen as many home buyers have taken the advantage of low mortgage rates and well-priced properties in desirable locations. New listings are down approximately 23 per cent from last year. According to RE/MAX Canada, residential real estate market in Vancouver is currently considered balanced, with purchasers and vendors on the same page for the first time in years. This has exerted pressures on prices, which bodes well for those expecting to earn capital returns on their investment properties.

On the other hand, although the unemployment rate in British Columbia has increased by 3.5 percentage points in a year to 7.7 per cent in the second quarter of 2009, wages in the region have actually increased by 2.2 per cent. At the same time, consumer confidence has rebounded and most Canadians now believe that the market is expected to turn around, making this the right time to buy. Considering the impending economic recovery, British Columbia, including Vancouver, should see employment and wages rebound. As the region is expected to lead the rebound in the housing activity in Canada next year, Vancouver real estate investments should benefit from the current and emerging economic trends.

In fact, Canadian real estate market—and especially that of Vancouver—should prove attractive to international real estate investors for several reasons. Canada’s economic growth next year will be at least double that expected in the United States and more than quadruple that of Europe. Moreover, the Canadian banking sector, which is ranked by the World Economic Forum as the soundest banking system in the world, has created a sound financial environment in Canada that ensures the security of real estate investments in an otherwise highly volatile global investment environment. Besides, the advent of the 2010 Olympics and the opportunity to showcase Vancouver globally should bode well for residential real estate in the coming year. Therefore, investing in Vancouver’s real estate could be a sound investment strategy for international investors.

In general, prospects for a strong demand for real estate in Vancouver look optimistic. The expected rebound in housing activity, along with an economic recovery, strong financial sector, and the coming 2010 Olympics all bode well for investments in Vancouver’s real estate. Investing in Vancouver properties has proven lucrative so far and will likely continue to be a choice for many local and international investors.

© Angel Wang | Top Real Estate Agent Vancouver Blog, 2009. | Permalink | One comment | Add to del.icio.us
Post tags: canada real estate, real estate investment, vancouver real estate

In the Greater Vancouver area, the most exclusive locations include Point Grey, UBC, Point Grey Road, Shaughnessy, West Vancouver’s Altamont, Dundarave, and British Properties (with upscale panoramic ocean and city views), and the waterfront. The most prestigious neighbourhoods in White Rock-South Surrey include Morgan Creek and Elgin/Chantrell. In Victoria, buyers seeking retirement or lifestyle properties are attracted to Esquimalt, Victoria West or Victoria Proper, where many properties offer a mix of exclusive, upscale waterfront units. Also popular are Oak Bay, Cordova Bay, Fairfield and Ten Mile Point. In Kelowna, lakefront properties carry the highest price tag. The most popular upscale neighbourhoods include Upper Mission, Lower Mission, Lakeview Heights, and Carr’s Landing.

© Angel Wang | Top Real Estate Agent Vancouver Blog, 2009. | Permalink | No comment | Add to del.icio.us
Post tags: luxury real estate, oceanfront property, Point Grey, real estate, vancouver real estate

Four areas of British Columbia, namely the ocean-facing Greater Vancouver, White Rock-South Surrey, Victoria, and the inland-located Kelowna, represent the major locales of luxury real estate in the province. These areas boast some of the priciest properties in Canada, with the minimum upper-end price thresholds ranging from $1 million in Victoria and Kelowna to $2 million in Greater Vancouver. Luxury properties in White Rock – South Surrey are those priced over $1.2 million.

Why BC Luxury Real Estate Appeals To Investors (Part Two)

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Post tags: BC, british columbia, Greater Vancouver, luxury real estate

Alternately, real estate investors cash in on the residential property market of Canada. They do this by beating trends, getting ahead of the market and buying in the fastest growing geographic region, at a time when, the market reaches the peak in that region. Then, investor’s cash in when they swap the assets before the particular geographic market hits a period of stagnation. Based on the latest positive market movements, in some regions, property investors who operated in this manner have received substantial benefits. This is indicative from their annual gains that have reached above 20%.

For real estate investors, Canada has two types of added bonus:

- It has a huge population of wealthy expatriates who either seek retirement or residence in Canada, or take up important employment positions under the skilled worker programs of the Canadian Immigration Department.

- Such immigrants seek properties for resale and rent and bring in a constant flow of “new” money into the property market. This adds to the sustainability of the real estate sector. It also creates a focus on investment in some areas and cities popularly known to such group of people. Extremely active Vancouver real estate market is one of the best example.

Within its borders, Canada has emerging markets. As safe and neutral country, it has changed from political strength to economical strength.

It has registered growth in plenty of business sectors, right from the urban expansion in Canada to the development of commercial and residential real estate sectors of their own.

Here, property investors can target their investments on any one of the developing cities of Canada. They can also purchase commercial or residential property units such as retail units, office space or industrial space.

Alternately, Canada has an expanding and well established tourism sector. It has crept further north and inland, and increased job opportunities especially in tourist accommodation markets and second home markets, in more Canadian towns than ever before.

There is no limit for a property investor in the Canadian real estate market. It depends on what the real estate investor seeks. In case, an investor targets his investments correctly, property sector in Canada supports sustainable income, short term gains and long term growth for that investor.

Real estate investment in Canada is organized and profitable. It is a safe haven for people who want to invest in real estate but could not do so due to the effect of housing crash in the United States. Hence, it is better to take this opportunity and invest in real estate of Canada for long term smart gains.

© Angel Wang | Top Real Estate Agent Vancouver Blog, 2009. | Permalink | One comment | Add to del.icio.us
Post tags: canada immigrant, canada real estate, property invest