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Blog › January 2017

October sales exceed historical average

Metro Vancouver home sales exceeded typical historical levels in October with the majority concentrated in the townhouse and apartment markets.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 3,022 in October 2017, a 35.3 per cent increase from the 2,233 sales recorded in October 2016, and an increase of 7.1 per cent compared to September 2017 when 2,821 homes sold.

Last month’s sales were 15 per cent above the 10-year October sales average.

“Conditions continue to vary significantly based on property type. The detached home market is well supplied with homes for sale, which is relieving pressure on prices,” Jill Oudil, REBGV president said. “It remains a much different story in the townhouse and apartment markets. Buyers of these properties continue to have limited supply to choose from and are seeing upward pressure on prices.”

There were 4,539 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in October 2017. This represents a 14 per cent increase compared to the 3,981 homes listed in October 2016 and a 15.6 per cent decrease compared to September 2017 when 5,375 homes were listed.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 9,137, a 0.1 per cent decrease compared to October 2016 (9,143) and a 3.5 per cent decrease compared to September 2017 (9,466).

For all property types, the sales-to-active listings ratio for October 2017 is 33.1 per cent. By property type, the ratio is 16.8 per cent for detached homes, 44.8 per cent for townhomes, and 66 per cent for condominiums.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“The growth in our provincial economy and job market is contributing to today’s demand,” Oudil said. “The federal government’s announcement of plans to tighten mortgage requirements for the seventh time in the last eight years also helped spur activity in the short term. Many buyers are trying to enter the market before the changes are in place.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,042,300. This represents a 12.4 per cent increase over October 2016 and a 0.5 per cent increase compared to September 2017.

Sales of detached properties in October 2017 reached 940, a 44.2 per cent increase from the 652 detached sales recorded in October 2016 and a 34.6 per cent decrease from the 1,437 sales in October 2015. The benchmark price for detached properties is $1,609,600. This represents a four per cent increase from October 2016 and a 0.5 per cent decrease compared to September 2017.

Sales of apartment properties reached 1,532 in October 2017, a 30.1 per cent increase compared to the 1,178 sales in October 2016 and a 0.7 per cent decrease from the 1,543 sales in October 2015. The benchmark price of an apartment property is $642,000. This represents a 22.7 per cent increase from October 2016 and a one per cent increase compared to September 2017.

Attached property sales in October 2017 totalled 550, a 36.5 per cent increase compared to the 403 sales in October 2016 and a 17.4 per cent decrease from the 666 sales in October 2015. The benchmark price of an attached unit is $802,400. This represents a 17.7 per cent increase from October 2016 and a two per cent increase compared to September 2017.

Vancouver Empty Homes Tax now in effect


The first tax year began January 1, 2017. The tax rate is 1.0% of the property’s assessed value.

Does the Empty Homes Tax apply to you? http://vancouver.ca/home-property-development/empty-homes-tax.aspx

Who pays this tax?
Owners of non-principal residences unoccupied for six months or more each year must pay this tax.

The Empty Homes Tax Does Not apply to:

  • Vancouver home owners, including snowbirds;
  • owners of principal residences;
  • a home with a basement suit or a laneway house if one of the units is occupied; and
  • Owners of properties rented long-term (with a tenancy agreement), or for at least 30 days in a row for a minimum of six months or a total of 180 days a year. For example, a homeowner renting a property for six 30-day terms is exempt from the tax, even if those six 30-day terms are not consecutive.

Exemptions
Exemptions include:

  • a property being renovated, or under construction or redevelopment (with permits);
  • the owner (or other occupier) is undergoing medical or supportive care;
  • the owner has died and the property is in probate;
  • the property changed ownership during the previous year;
  • there are strata rental restrictions prohibiting rental;
  • the owner uses the property for six months a year for work and has a principal residence elsewhere;
  • there is a court order prohibiting occupancy;
  • the property is limited to vehicle parking, or a residential building can’t be constructed because of the size or shape of the property.

Owners claiming an exemption
These owners must provide evidence, for example, building permits, a letter from a care facility, a death certificate, strata bylaws, or related.

If you don’t qualify for an exemption
Does the tax apply to you? Check here.

Property owners who don’t qualify for an exemption have options. You can:

  • live in your property as a principal residence;
  • rent your property for a minimum of 180 days per year, in periods of at least 30 consecutive days;
  • hire a property management firm to rent the property on a long-term or periodic basis;
  • have a family member occupy the property as their principal residence;
  • sell the property; or
  • Keep the property as-is and pay the Empty Homes Tax.


BosaSPACE - University District in Surrey Center- 3 townhomes remaining for sale


Contact [email protected], 778-895-2954 for details.

bosaspace b

 

 

THREE PENTHOUSE HOMES REMAIN

At this time, we have three beautiful homes remaining in our Penthouse Collection – featuring stunning city and mountain views, legendary Bosa attention to detail, two parking stalls, and private rooftop decks (hot tub included!). Please see below for further details:

Plan Type View
Orientation
Interior SF Exterior SF Price
PH7 S 969 422 $650,900
PH1 S 969 634 $660,900
PH3 NW 1 345 735 $926,900


Recently Sold Listing 1007 - 235 Keith Road, West Vancouver, BC


R2129419 - 1007 - 235 Keith Road, West Vancouver, BC, CANADAI have just recently sold this listing at 1007 - 235 Keith Road, West Vancouver.

British Columbia Eyaletinde yasayip, Ilk Defa Ev Alacaklar olanlara saglanilan kolayliklar


British Columbia Eyaletinde yasayip, Ilk Defa Ev Alacaklar olanlara saglanilan kolayliklar:

1- Home Owner Mortgage and Equity Partnership program'i altinda yeni ev alacaklara B.C. Hukumeti 37500 CAD ye kadar ilk 5 yil faizsiz borc verecek. Bu imkandan yararlanmaniz icin en onemli kosul bir bankadan mortgage pre-approval almaniz- yani mortgage icin on onay almaniz gerekiyor. Diger kosullar asagida siralanmistir. Bu parayi alabilmek icin bankanizdan on onayi aldiktan sonra BC Housing for the Home Owner Mortgage and Equity (HOME) partnership loan'a basvuru yapacak sonra oradan da onay gelince evinizi bulacaksiniz. Gerekli kosullar;
  • Son 5 yildir Kanada vatandasi yada gocmen olmus olmak
  • Basvuru tarihinden once 1 senedir British Columbia eyaletinde yasiyor olmak
  • Alacaginiz evin ilk eviniz olmasi gerekiyor
  • Evinizde 5 yil oturacak olmaniz gerekiyor
  • Alacaginiz evin fiyatinin 750 bin dolari gecmemesi gerekiyor
  • Bankadan "pre-approval" yani mortgage icin on onay almis olmaniz gerekiyor
  • Toplam gelirinizin yillik 150 bin dolari gecmemesi gerekiyor
  • En azindan verilen borc miktari kadar yani 37500 CAD lik down payment yani pesinat miktarinizin elinizde olmasi gerekiyor.
  • Alacaginiz evin tapu islem tarihinin 15 Subat ve sonrasina denk gelmesi gerekiyor. Yani simdiden teklif verip anlasmanizi yapsaniz bile evin tapu islem tarihinin 15 Subat ve sonrasi olarak koymalisiniz teklifinize.
  • Bu fon basvuru imkani 31 Mart 2020 tarihine kadar acik olacak.

Daha fazla bilgi icin bu linke tiklayiniz: https://housingaction.gov.bc.ca/tile/home-owner-mortgage-and-equity-partnership

2- Property Transfer Tax (PTT) Exemption - B.C. Hukumeti alinan evlerden belli oranda her alimda bir kere olmak kosulu ile alim-satim vergisi keser. Bu vergi alici tarafindan hukumete odenir. Bu verginin orani soyle hesaplanir:

  • 1% on the first $200,000 - ilk 200bin dolarin yuzde 1'i
  • 2% on the balance up to and including $2,000,000- geriye kalan ve maximum 2 milyona kadar olacak rakamin yuzde 2'si
  • 3% on the balance greater than $2,000,000 - alinan evin fiyati 2 milyon dolardan fazla ise toplam rakamin yuzde 3'u olarak hesaplanir

Mesela 750 bin dolarlik bir yer alirsaniz PTT: $2000 (%1 x $200,000) + $11000( %2 x $550,000) = $13000 olacaktir.

Evinizin fiyati $475000 ve altinda ise ve ilk defa ev aliyorsaniz PTT odemezsiniz. $475,000 ve $500,000 dolar arasinda ise oransal bir odeme soz konusu olacaktir. Evin fiyati $500,000 i gecerse PTT odemeniz gerekecektir (hesaplamayi yukardaki ornekde oldugu gibi yapabilirsiniz).

Yeni yapilan evlerde- yani ilk defa satilan sifir evlerde - satis fiyati 750,000 dolarin altinda ise PTT odemezsiniz ama yeni yapilan evler yuzde 5 GST vergisine tabidir. Bazen GST rebate'ler soz konusu olabilir, bunun icin bu linke tiklayiniz :http://www.cra-arc.gc.ca/E/pub/gp/rc4028/README.html

Eger ilk defa ev alacaksaniz ve gerekli kosullari sagladiysaniz bu programdan yararlanmak icin, noteriniz satis islemleri esnasinda gerekli formlari doldurup hukumete first time home buyer oldugunuzu bildirir ve boylece bu vergiden muaf olursunuz. 

Daha fazla bilgi almak icin bu link'e tiklayiniz:  http://www2.gov.bc.ca/gov/content/taxes/property-taxes/property-transfer-tax

 

3- RRSP - Home Buyers’ Plan: Registered Retirement Savings for down payments:


Canada Revenue Agency’s Home Buyers' Plan ilk defa ev alacaklarin pesinatlarinda kolaylik saglamak icin, alicilarin birikmis RRSP hesaplarindan kisi basi $25000 cift olarak ise $50000 dolara kadar vergisiz para cekmelerine izin veriyor.

Normalde RRSP hesabinizdan para cekmeniz icin cektiginiz rakamdan o yilki vergi diliminize denk gelen oranda vergi odemeniz gerekir ama ilk defa ev alirken bu vergiden muaf oluyorsunuz.  Bu cekilen paranin 15 sene icerisinde yavas yavas yada bir kere de geri odemeleri beklenir. Tabi yine alinacak evde yasama sarti vardir, yani en az 1 sene bu evde yasamaniz gerekir.

Finansal danismaniniz ile bu konuyu gorusup ayrintilari ogrenebilirsiniz. RRSP hesabinizdan vergisiz para cekmeniz icin verilen bu olanaktan yararlanmanizi oneririm.

Daha fazla bilgi icin buraya tiklayiniz: http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/rrsp-reer/hbp-rap/menu-eng.html

4- First-Time Home Buyers' Tax Credit:

Evinizi aldiktan sonra uygun doneme denk gelen tarihte yillik gelir verginizi yaparken, yeni aldiginiz ev icin $5000 dolara kadar yillik verginizde gosterme imkani taniyor. Bu rakam size yillik vergi hesaplarinizda indirim saglayabilir. Evinizi aldiktan sonra ki donemde yillik gelir vergilerinizi yaparken bu rakami kullanmayi unutmayin.

Daha fazla bilgi icin bu link'e tiklayiniz; http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns360-390/369/menu-eng.html



New Listing 1007 - 235 Keith Road, West Vancouver, BC


R2129419 - 1007 - 235 Keith Road, West Vancouver, BC, CANADAView my new listing for sale SOLD at 1007 - 235 Keith Road, West Vancouver and currently listed at $999,000.SOLD

Gorgeous Spurway townhouse is set against a beautiful garden acreage close to Capilano River Regional Park. This 3 bd, TV/family room, 2 bathroom and a powder room townhome has beautiful updates and features: new floors, new patio, new kitchen, new carpets, new appliances and a wood-burning fireplace. Open concept kitchen and living room opening out to an enormous private patio overlooking the gardens. Lots of storage and insuite laundry. Spurway Gardens sits on acres of lush landscaping, gorgeous communal lodge, guest suite, resort style outdoor swimming pool, onsite caretaker, all within minutes walk to Park Royal Shopping Center and Ambleside. Unit comes with 2 parking - one covered, one open - and storage locker. JUST SOLD!