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October 2016

Found 8 blog entries for October 2016.

We’re Expanding Our Yaletown Office! We’ve had an outstanding year so far and we’re doubling our Yaletown office space! Passion, Competence & Exclusivity are the values that define our brand. Do you have the qualities to be an Engel & Völkers Real Estate Advisor? Contact us at: vancouver@evcanada.com

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Visit thegablesestate.com

Truly beyond comparison, The Gables Estate is an unrivalled statement of lifestyle and sophistication.

This stately 10,595 square foot Tudor mansion on Vancouver’s largest estate property has been painstakingly restored and brilliantly incorporates the homes majestic elegance with modern sophistication.

An absolutely extraordinary estate that does not cease to amaze awaits you with every consideration for today’s modern distinct lifestyle in this truly impressive home. 

A private and gated 4.25 acres of sprawling lush manicured grounds, lay host to this dream este. Feel the warmth of the fine woods, blessed with an abundance of towering mature trees and nature or soak in the breathtakingly impressive panoramic

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CMHC to issue first ‘red’ warning for Canada’s housing market

Canada’s housing agency is raising the alarm over the country’s real estate sector, warning about a strong risk of problems on the horizon.

Canada Mortgage and Housing Corp. will increase the risk rating in its overall assessment of the country’s residential market to “strong” from “moderate” when it issues a new report on Oct. 26.

“CMHC has recently observed spillover effects from Vancouver and Toronto into nearby markets,” CMHC chief executive officer Evan Siddall said in an opinion column in The Globe and Mail.  “These factors will be reflected in our forthcoming Housing Market Assessment on Oct. 26. They will

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How the new housing rules affect your purchasing power

How much home can you afford?

Possibly less under new rules unveiled Monday by the federal Liberal government.

Starting Oct. 17, all insured new homebuyers must “stress test” their ability to carry their mortgage payments at whichever is greater: the negotiated rate in their mortgage contract or the Bank of Canada’s five-year fixed posted rate.

Most recently, the central bank’s posted rate was 4.64 per cent – or about two percentage points greater than many discounted rates on offer.

Mortgage insurance is required when homebuyers make a down payment of less than 20 per

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Three quarters of GTA residents support foreign buyer tax

by Steve Randall, Canada Real Estate Wealth 10/13/2016

There is overwhelming support among residents of the Greater Toronto Area for a tax on foreign buyers, according to a poll by Angus Reid.

Implementing a 15 per cent tax, similar to that in Vancouver, would have the support of 77 per cent of respondents with 40 per cent “strongly” supporting the idea. Even the wording “regardless of how it might personally affect you” was not enough to dissuade supporters.

Despite the high level of support, most respondents don’t believe that foreign buyers are the main reason for high prices; in fact, only a third (34 per cent) cited “foreigners investing in this market” as the cause.

Most

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GTA House Prices Have Millennials ‘Seriously' Thinking About Leaving

The Huffington Post Canada  |  By Daniel Tencer

Posted: 10/12/2016 3:07 pm EDT

Many of Toronto’s millennials have had it with the city’s relentless growth in housing costs, with 45 per cent saying they are seriously thinking about leaving the city.

That’s according to an Angus-Reid poll released Tuesday which also shows strong support in the city for a foreign-buyer tax on homes like the one the British Columbia government introduced for Vancouver this summer.

Overall, 39 per cent of Greater Toronto respondents said they were seriously thinking about leaving the city, with millennials — which are in their prime home-buying years — the

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