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Empty Homes Tax and a Look to 2020 Real Estate

The market is on the rise! Just as we’ve been saying. One of a few articles that are coming out speaking out about what to expect in 2020. And with inventory of active listings continuing to decline, there is a need for new listings! So buyers, ready, set, BUY! There was a 1 bed apartment downtown that had 22 offers on it this week! Article attached and link below:


https://globalnews.ca/news/6215532/metro-vancouver-real-estate-sales-prices-2021/


As discussed at the meeting on Monday, an update on the Vancouver Empty Homes Tax – numbers for varying neighbourhoods and results from the last 2 years. As well, Mayor Kennedy Stewart had campaigned on a platform of increasing the tax from 1 to 3%, but City Staff have recommended keeping it at 1%. Article is attached for those interested! Smile


https://www.vancouverisawesome.com/2019/11/22/empty-homes-tax-rate-increase-vancouver/

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