February 2016

Breakdown: New Property Transfer Tax Rules

Posted on Feb 23, 2016 in Buyers

A quick update below on the recent changes to the latest budget regarding the PTT as you are most likely fielding lots of questions:

1. How do these changes affect first time buyer exemptions?
First time home buyer exemption limits have NOT changed

2. If my buyer purchases a home worth $770,000 is there a partial exemption?
All buyers (whether first ti...

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New Measures Aim to Improve Housing Affordability - BC Budget 2016

Posted on Feb 16, 2016 in Market Statistics

Newly built homes priced up to $750,000 will be fully exempt from the property transfer tax when bought
by Canadian citizens or permanent residents as a principal residence and lived-in for a full year. 

The measure aims to assist purchasers and help stimulate the construction of moderately priced homes. The exemption will save a purchaser up to $13...

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Home buyer competition keeps home sellers in the driver’s seat

Posted on Feb 02, 2016 in Market Statistics

Home buyer activity remains at near record levels across the Metro Vancouver housing market.

Residential property sales in Greater Vancouver totalled 2,519 in January 2016, an increase of 31.7 per cent from the 1,913 sales recorded in January 2015 and a 10.9 per cent decline compared to December 2015 when 2,827 home sales occurred.

Last month’s sales...

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