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Stories Tagged - British Columbia

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Nov. 13, 2019 | Gerald Vander Pyl

Five things to consider when buying a ski-vacation condo

A ski-vacation condo can be a great place for holidays with family and friends, with the added benefit of generating rental income when you're away.

Luckily, ski resorts and mountain towns in B.C. are not subject to vacancy or speculation taxes that have started to emerge in that province, and even buying at a U.S. ski resort is possible with financing through your Canadian bank.

Here are five questions to consider when buying a ski-vacation condo:

B.C.’s new speculation tax will impact several real estate markets in the province, including Victoria, Kelowna and Metro Vancouver.
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June 27, 2018 | Barb Livingstone

Up in the air

New B.C. speculation tax could prompt Albertan vacationers to look closer to home for second-property purchases

Scott Henderson has split his work time between clients in the Okanagan and those in his hometown of Calgary for the last 15 years.

Eight months ago, the marketing/communications agency owner got pre-qualified for a mortgage for a second residence in Kelowna. Then, this February, B.C.'s provincial government announced a speculation tax on out-of-province and foreign owners to discourage buy-up of housing by investors who, it claims, leave homes empty and drive up home prices. A homeowner can avoid the tax by living in, or renting out, the home half the year.

Housing demand in Kelowna, B.C., continues to be robust despite fewer Albertans picking up properties in the Okanagan city. Photo by Jamie Zachary/CREB®Now

Aug. 05, 2016 | Marty Hope

Kelowna continues to capitalize

Alberta's out-of-province playground still drawing buyers

Kelowna's healthy economy and population growth are driving resale home transactions up and fuelling higher levels of new home construction, suggesting a sellers' market, according to housing industry figures.

And the lure of the valley continues to draw buyers from Alberta despite the province's economic downturn.

The largest city in the Okanagan Valley of British Columbia, Kelowna has recorded nearly 3,600 sales for the first half of this year compared with slightly more than 2,700 a year ago, according to figures from Canada Mortgage and Housing Corp. (CMHC).

Morning News Rundown

Aug. 09, 2012 | CREBNow

Morning News Rundown


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