Is BC Real Estate Back to Market Madness?
In this video Jordon Spitteres with Eximus Real Estate sjhares his in the trenches Fraser Valley and BC Market insights
1. How to give yourself the best chance to win in multiple offers
2. Why it’s better to go after the overpriced homes others are ignoring
3. How long will this market last
Months after Canada’s ban on foreign homebuyers took effect on Jan. 1, the Canada Mortgage and Housing Corporation (CMHC) has announced several amendments to the legislation allowing non-Canadians to purchase residential properties in certain circumstances.
The changes to Canada’s Prohibition on the Purchase of Residential Property by Non-Canadians Act, which took effect March 27, primarily affect work permit holders, as well as public and private corporations partially owned by foreigners. Canada’s Ministry of Housing is responsible for the amendments.
“These amendments will allow newcomers to put down roots in Canada through home ownership and businesses to create jobs and build homes by adding to the housing supply in Canadian cities,” Minister of Housing and Diversity and Inclusion Ahmed Hussen said in a press release issued by the CMHC on March 27.
BC Government Announcement: New action plan delivers more homes for people, faster
The Province’s new housing plan will speed up delivery of new homes, increase the supply of middle-income housing, fight speculation and help those who need it the most.
The Homes for People plan will deliver more homes people need in a shorter timeframe and build more vibrant communities throughout B.C.