THURSDAY, AUGUST 4, 2016
VANCOUVER EASTSIDE
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R E A L E S TAT E W E E K LY
Overseas Buyers of Vancouver Real Estate to Pay Extra 15% Property Transfer Tax
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verseas-based buyers of Metro Vancouver homes have to pay an additional 15 per cent in Property Transfer Tax as of August 2, under new legislation announced July 25 by the BC government. Finance minister Mike de Jong said the tax is intended to tackle low rental vacancy rates and high home prices in the region. “The data we started collecting earlier this summer is showing that foreign nationals invested more than $1 billion into BC property between June 10 and July 14, more than 86% of it in the Lower Mainland,” said de Jong. “While investment from outside Canada is only one factor driving price increases, it represents an additional source of pressure on a market struggling to build enough new homes to keep up. This additional tax on foreign purchases will help manage foreign demand while new homes are built
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to meet local needs.” The group of legislative changes also allows the City of Vancouver to amend its community charter in order to introduce a vacancy tax, which Mayor Gregor Robertson said recently that the City would implement with or without the province’s support.
be accessible to middle-class families, and those who are in a position to rent should be able to find a suitable home. “These changes are about helping to make sure that British Columbians can continue to live, work and raise their families in our vibrant communities.”
A Change of Tune New Housing Fund The BC government also announced it is creating a new Housing Priority Initiatives Fund for housing and rental programs, details of which have yet to be announced. The fund will start with a cash injection of $75 million, and going forward will be topped up with some of the revenues from the Property Transfer Tax, including income from the new additional tax on foreign buyers. Premier Christy Clark said of the legislative changes, “Owning a home should
Ask the Expert: How Can I Stop My Sold Home Being Torn Down?
Victoria’s allowance of the charter change to permit the home vacancy tax was widely anticipated to be announced, but the new Property Transfer Tax for overseas buyers was less expected. The tax marks a change of tune for the BC government, which until now has largely shied away from intervening in the local housing market and foreign investment. Last year, de Jong said he did not support a tax on foreign investment, as he was concerned it would deter Asia-Pacific investors. Responding to the two changes, the
Foreign Nationals Bought 10% of Vancouver Homes in Five-Week Period
Urban Development Institute stated, “It is uncertain what combined impact these taxes will have on the housing market. The Urban Development Institute believes that taxes alone will not solve our affordability problems. “With three new taxes proposed it is now time to focus on creating more housing supply. A portion of the PTT tax revenues will be deposited in a new Housing Priority Initiatives Fund. If allocated wisely, these revenues could provide a real opportunity to increase the supply of both market and rental housing.” The announcement follows recent news that Property Transfer Tax revenues have increased 43.9 per cent over the past year to $1.53 billion a year – a figure that could rise even more dramatically under the new tax rules, unless overseas buyers are deterred from investing in Vancouver real estate.
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Over 35 years of experience in selling and custom building houses in B.C. 15 years Diamond Master Medallion Club Member, Top 1% President Club Award of All Realtors in Real Estate Board of Greater Vancouver.
BALDEV SANDHU & JULIANA HO TEAM Top New Home Construction Award
Free Market Evaluation. Sell your house fast. Custom build your dream house.
Diamond Master Medallion
BALDEV SANDHU 604-880-9571
JULIANA HO 778-869-9688
ROYAL PACIFIC
www.BaldevSSandhu.com DaveSandhu@royalpacific.com
MASTER
www.JulianaHo.com Juliiho@gmail.com
R E A LT Y
Vancouver East, Collingwood
Vancouver East, Collingwood
Vancouver East, Victoria
Side by Side Duplex, BRAND NEW 2 storey with basement
SxS Duplex BRAND NEW 2 storey with basement
Presale, Build to Suit - 3 storeys plus LWH
2359 & 2355 East 41 Avenue
5508 Dundee Street and 5502 Dundee Street
$1,228,000 - A south facing S x S 1/2 duplex, 3-storey, spacious 1975 sf with finest built - 5 bdrms, living room, family room & kitchens
OPEN HOUSE SAT & SUN 2-4 PM
- Granite countertop, hardwood floor, maple wood kitchen cabinets - Radiant heat & HRV system, high efficiency heating system, garage
- A quality built 2000 sf duplex under construction - 3 bedrooms above, living room, dinning room, kitchen, OPEN HOUSE 2 bedroom suite in basement SAT & SUN 2-4 PM - 3.5 bathrooms, granite countertop, maple wood cabinets, hardwood floor, HRV system, inter-telecom 5508 5502 $1,215,000 $1,250,000 Single garage
NEW LISTING
2073 East 27th Avenue NEW LISTING
$2,250,000 - A fabulous South facing in Victoria area - Total area 3250 sf on lot size 33 x 118.50 - 2 storey with basement plus LWH - Granite counter top, maple wood cabinets - Radiant heat, HRV and security system - Buyer to provide own plan & choice are welcome
Vancouver East, Grandview
Vancouver East, Collingwood
Vancouver East, Collingwood
Front & Back 1/2 Duplex
Duplex lot for sale
Single family in 2 storeys
2118 Graveley Street
5651 Earles St Vancouver
NEW LISTING
$1,310,000 A brand new ½ duplex, is almost
5512 Dundee Street
$3,200,000 Builder or investor alert! A duplex lot, RT11 zoning, lot size 60 x 117 ft, ready to build 4 duplex each 1500 sf, building plan already submit to the City for approval. Existing is an very beautiful 10 years new house. Good to keep and build later. Don’t miss!
NEW LISTING
finished at a desirable area of Grandview neighbourhood. This 2-storey, 1206 sf unit with detail finishing and mordern design; living area, dining area, kitchen, 3 bedrooms at above, 2.5 bathroom, granite counter top, single garage.
Bob Bracken
NEW LISTING
$930,000
- First time buyer alert! strata fee
No
- A single family infill in 2 storeys, - 1330 sf living area features 3 bedrooms, 2.5 bathroom, kitchen, living room
OPEN HOUSE SAT & SUN 2-4 PM
Real Estate Services Each office independently owned and operated.
410-650 W 41ST Avenue, Vancouver, BC V5Z 2M9
- Open parking - Don’t miss!
604.263.2823
bobbracken.com bob@bobbracken.com
Real Estate Investment Think Bob Bracken
CITY HALL MULTIFAMILY BLDG ON BIG LOT KITSILANO NORTH OF 4TH MULTIFAMILY BLDG MAIN / FRASER CHARACTER FOURPLEX OPEN 4+ 6+ NORTH FIRST 4 SAT & SUN UNITS! OF 4TH UNITS! UNITS! CLASS! 2-4!
225 WEST 15TH AVE
3536 WEST 1ST AVE
*** NEW LISTING! *** 506 EAST 43RD AVE
• Edwardian Character Multifamily Bldg, 4361 SF, 4+ Units • Suite Mix: 1X1 Bdrm, 2X1 Bdrm & Den, 2X2 Bdrm • Big 50’X125’ RT-6 Lot, Gr Inc $91,000, Excellent Condition • Investors, Owner-Occupiers, Developers Asking $2,988,000
• Kitsilano, Big 3700 SF Character Multiplex, 33’X122’ RT-8 • 1st Class Loc, Mtn Views, 1 Block to Beach, Double Garage • Gr Inc $113,800/yr, Great Tenants and Suite Mix, 6+ Units • Investors, Owner-Occupiers, Developers Asking $3,339,000
• Char 4 Suites, 3483 SF, 3 Lvl Multifamily Bldg, Great Cond • 2 Bdrm Owner Suite, 3X1 Bdrm Suites, 5 Meters, 3 Furnaces • $2750/mo mtg helper, Pot Inc $5550/mo, Corner RM2 LOT • Investors, Owner-Occupiers ,Developers Asking $1,798,000
MOUNT PLEASANT LEGAL TRIPLEX
COMMERCIAL DR STRATA DUPLEX W 4 UNITS
REAL ESTATE WITH CASH FLOW
LEGAL TRIPLEX!
INCOME!
SIDE BY SIDE!
4 UNITS!
628 EAST 12TH AVE
2670 - 2680 WOODLAND DRIVE
• Big 4 Level, Great Character Legal Triplex, 2728 SF • Suite Mix: 2 lvl 3 Bdrm, 2X1 Bdrm, 33’X122’ RT-5 Lot • Gr Inc $48,000yr, Fenced Yard, High Ceilings, Views • Investors, Owner-Occupiers, Developers Asking $1,398,000
• Commercial Drive, Side-by-Side Strata Duplex w 4 Suites • Each Side has Top Flr 3 Bdrm Unit & Main Flr 2 Bdrm Unit • Total 3568 SF, Gr Inc $79,980/yr, Corner 50’X122’ RT-5 Lot • Investors, Owner-Occupiers ,Developers Asking $2,498,000
HOUSES WITH SUITES DUPLEX, TRIPLEX, FOURPLEX 5PLEX, 6+ UNITS APARTMENT BUILDINGS LAND FOR RE-DEVELOPMENT IF YOU ARE THINKING OF SELLING OR BUYING INCOME PROPERTIES CALL BOB BRACKEN 604-263-2823
HOUSES DUPLEX TRIPLEX 4PLEX 5PLEX 6+ UNITS APARTMENT BUILDINGS DEV SITES
R E W.ca » VA N COU V E R E ASTS I D E » T H U RS DAY AUGUST 4, 2 0 1 6
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LAN 3447 WILLIAMS ST.
$1,399,000
ABOVE THE CROWD! 20 Years experience combined
JIN BAGRY 604-644-0495
SAM BAGRY 604-761-1664 CALL US FOR A FREE HOME EVALUATION
www.vancouver-homes-on-sale.com
Top 1% of all Realtors for 2014/2015 with over 200 Homes sold in 2 years! 75 CANBERRA AVE
$1,299,000 • 2 bedrooms
NEW LISTING
322-7151 EDMONDS ST
• 1 bdrm, 1 bath, open layout condo • Well maintained with new plumbing, roof, light, carpet and painted exterior and common areas
NEW LISTING
• 2 storey great livable home with city view • Huge 59x122 lot • Located in Prime Capitol Hill area
LOT 7,198 SF
4342 NANAIMO ST NEW LISTING
LOT 5,712.15 SF NEW LISTING
$2,200,000 • 10 bdrm, 2 bath, 3 storey • Close to shopping & restaurants • Walking distance to Nanaimo Skytrain Station • Must be sold together with 4320 & 4360 Nanaimo St
$1,279,000
$248,000
LOT 696 SF
1694 E 22 AVENUE NEW LISTING
OPEN HOUSE AUG 7TH 2-4 PM LOT 5,952 SF
NEW LISTING
$2,199,000 • Huge 5952 sq ft corner lot RT 10 zoned, Prime Cedar Cottage Area • Steps away from Little Cedar Montessori Pre-school, shopping centre, transit, hold or build! • Do not miss out on this opportunity
$1,368,000
NEW LISTING
4320 NANAIMO ST
$1,300,000 • 7 bdrm, 2 bath, 3 storey • Fully finished bsmt • Close to transit, restaurants & shopping • Must be sold together with 4342 & 4360 Nanaimo St.
NEW LISTING
LOT 3,808 SF
2040 PANDORA ST
$2,990,000 • Central location in thriving location • 6 bedrooms, 3 bathrooms • Build up to 11 units • Excellent development opportunity • To be sold in combination with 2054 Pandora St.
NEW LISTING
LOT 7,198 SF $1,990,000
NEW LISTING
4360 NANAIMO ST NEW LISTING
LOT 5,509.95 SF
$2,200,000 • Livable home in prime Collingwood area • Central location • Walk to Nanaimo Skytrain station • Must be sold together with 4320 & 4342 Nanaimo St.
2054 PANDORA ST NEW LISTING
LOT 4,880 SF
$2,399,000
$2,990,000 • Central location in thriving location • 5 bedrooms, 2 bathrooms • Build up to 11 units • Excellent development opportunity • To be sold in combination with 2040 Pandora St.
NEW LISTING
$1,499,000
OPEN HOUSE AUG 7TH SUN 2-4 PM LOT 3,633.66 SF
5769 KNIGHT ST
2255 E 43RD AVE
5130 SLOCAN ST
4721 FAIRMONT ST
• Top quality custom built 3 level family home • 7 bedrooms 5 bathrooms • Potential 2 suites downstairs • 1 car garage & 1 bedroom laneway home • Close to schools, transit, shopping & parks
• Located in quiet Collingwood neighbourhood • 4 bdrm, fully finished basement • Property is conveniently situated for shops, parks, transit & schools • Potential multifamily site
• Very well maintained • Solid 5 bdrm, 2 bathrms, 2 kitchens • Original hardwood flooring on main • Many upgrades • Steps to skytrain, transit, shops and school
5630 MAIN ST
• Solid 2 storey bungalow • 6 bdrm house, separate 3 bdrm suite • 2500 sqft. home on big 43x110 lot • Build upto 3700 sqft home + laneway
• 2 storey, 4 bdrm, 2 bath 1/2 duplex • 1,680 sqft interior living space • 264 sqft 1 car garage • 2801 sq.ft. lot
Tony Alves
Teresa Pang
604.889.7008
604.617.0189
.com
www.
Centre Realty 604.435.9477 www.tonyalves.ca • aalves@sutton.com
LOT 4,915 S.F.
LOT 5,319.6 S.F.
OUTSTANDING AGENT
pangt@sutton.com
604-275-9787
104 Sales so far in 2016!
patsy@patsyhui.com
2084 EAST 54TH AVENUE • $1,288,000 20 0
WESTCOAST
... OUTSTANDING RESULTS
RECIPIENT OF RE/MAX LUMINARY OF DISTINCTION AWARD
$1,899,000
6-BDRM 2-LEVEL HOME
6688 CULLODEN STREET Lovely 2204 sqʼ BRIGHT & SPACIOUS family home in desirable SOUTH VANCOUVER location. 9ʼ ceiling on main floor. MAPLE FLOORING in living & dining room. MAPLE CABINETS & GRANITE COUNTERTOPS in kitchen. Gas fireplace in living room. TILE ROOF & RADIANT HOT WATER HEATING THRU-OUT. 3 bedrooms, 2 full baths on main. Downstairs has a 1-BEDROOM SUITE & 2-BEDROOM SUITE WITH SEPARATE ENTRANCE. Close to transit & schools. A pleasure to show!
www.dexterrealty.com
OPEN HOUSE PM SAT & SUN 2-4
NEW LISTING
604-689-8226 Yaletown 604-336-3539 Main Street 604-263-1144 Kerrisdale 5168 RUBY ST
This 2 bedroom bungalow plus a finished basement sits on the great location of Victoria Drive and 54th area. Loads of potential, renovate and build a laneway home or build a 2,263 sq.ft. home plus a 517 sq.ft. laneway on this easy to build on lot. Basement could be a nice suite with a little TLC.
$1,328,800
A solid and well maintained home from the 1950's. This home is in very good shape and would make a great starter home or rental investment (suite potential). A large lot size for the area (50ʼx103ʼ). Rezoning in the Joyce / Collingwood area for higher density would make this a good holding property for future redevelopment. Quiet street close to major shopping and transportation. ROBIN HILL & GRACE KREYKENBOHM 604-340-4000 778-998-4523
Taking our Listings Global 104-228 E14th Ave
★
$599,000
OPEN SAT/SUN 2-4PM HUGE GARDEN PATIO!
• Unbeatable location! • A new life? • A new relationship? • A new baby? • Rarely available! Philip Rogers 604-808-4623
R E W.ca » VA N COU V E R E ASTS I D E » T H U RS DAY AUGUST 4, 2 0 1 6
“Your East Vancouver Real Estate Experts!” 1785 E.14TH AVE.
$1,149,900
Lisa MacIntosh
Diane Kunic-Grandjean
STEPS AWAY FROM TROUT LAKE, SOUTH FACING FRONT ½ DUPLEX – 3 BED UP, 2.5 BATH & DETACHED GARAGE This is not your usual South facing ½ duplex: step inside to a well-laid out floor plan offering a refreshingly expansive living room with fireplace, a dining area able to host numerous guests & a wonderfully appointed kitchen with shiny white cupboards, s/s appliances & beautiful black granite countertops. The top floor will wow you with its 3 bedrooms & 2 bathrooms of unusually ample size – especially the master bed & its ensuite! Fantastic amount of natural light throughout, storage galore & a powder room on the main floor. BONUS: detached garage turned into a storage & office space! Feel right at home with its Westcoast flair, covered porch, large front garden and a short walk to Trout Lake & its Farmer’s market.
1925 CRAFTSMAN BEAUTY IN THE HEART OF KITSILANO – 4 BED, 2.5 BATH W/LEGAL SUITE 3444 W. 5TH AVE.
$2,950,000
Sitting across from McBride Park in the heart of Kitsilano, this 1925 Craftsman offers yesterday's cachet with today's comfort. Beautifully restored character home with all of the original Fir trim work lovingly refinished. The foyer's wainscoting sets the tone for the main floor: a spacious front reading room/den, a large living room with fireplace opening onto a dining room designed for entertaining. In the mood for a BBQ? Open your French doors and step onto your gigantic South facing deck! Upstairs offers 3 sizeable bdrms, the front bdrm has a unique attached crafts room. BONUS-a full height basement with a self-contained 1 bdrm suite (done with permits) with its own south facing patio. The front & back gardens are enjoyed from every window, creating an Urban Oasis on this 46x120 lot.
VERY UNIQUE 1 BEDROOM CORNER UNIT OF 702 SQ.FT. W/ FANTASTIC & PRIVATE OUTDOOR SPACE! 107-925 W. 15TH AVE.
$484,900
Set on the quiet North East corner, this 720 sq.ft. split-level 1 bedroom shares only one wall with its neighbor & is sure to impress you with a functional U-shaped self-contained kitchen, sizeable bedroom offering 2 closets & a window overlooking your very own deck. Step up to a sun-filled open concept space with beautiful Brazilian hardwood flooring throughout, a dining area easily hosting 10 people without forgetting an ample living area with a woodburning fireplace. UNIQUE BONUS: your very own private semi-covered wrap-around deck of nearly 300 sq.ft. overlooking the yard of a house! Where do you get this in the city? Insuite laundry, 1 parking, 1 cat or 1 dog (max 40lbs). All balconies done & depreciation report available. A delight to show!
TROUT LAKE & THE DRIVE – FANTASTIC FRONT ½ DUPLEX - 3 BED & 2.5 BATH! 1656 East 13th Avenue
$1,149,900
Fabulous front 1/2 duplex on a 33x127 lot, a stone throw away from Trout Lake and The Drive! It has it all: 3 spacious bed on the upper floor, including a master bed with large window with North Shore Mountain views, a newly renovated en-suite and 2nd full bath with jetted tub. The main floor offers a unique layout: very airy, spacious living room with substantial ceiling height, gas fireplace and a bay window overlooking the front yard. Sizeable dining area easily welcoming a party of 8, adjacent to a well-appointed U-shaped kitchen with plethora of storage and granite countertops. Separate large pantry-laundry room. Enjoy the front & side gardens which sizes can rival that of a house. New windows throughout, new fence & front stairs. Transit, Restaurants, Fun, Parks all at your doorstep. This is East Van living at its best!
HASTINGS SUNRISE UNIQUE 1914 CRAFTSMAN BUNGALOW IN SUPERB CONDITION 2733 FRANKLIN ST.
$1,699,000
What a beauty! Welcome to this 1914 Craftsman Bungalow Heritage "B" lovingly & patiently restored to its current glory! The large foyer gives the tone w/its beautiful wainscoting, 9'4" ceiling height & hwd flooring. Cozy up by the fireplace in your comfortable lvg rm drenched by natural light, host your loved ones in the adjacent large dng room while marvelling at the Tudor ceiling & superb built-in dresser. The 3 sizeable bed & charming 1,5 bath w/claw foot tub will house your family for a very long time. Airy modern kitchen & eat-in area from which to access a lush fenced backyard & detached garage. The bsmt offers 2 bed suite & a large separate area which could be a rec/family room for you. A unique gem in beloved Hastings Sunrise!
L i s a M a c I n t o s h Te a m - D e x t e r A s s o c i a t e s R e a l t y Medallion Club - Top 10% of Realtors in Greater Vancouver Photos & Visual Tours at: www.lisamacintosh.com Email: lisa@lisamacintosh.com Tel: 604-263-1144
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BAY REALTY Yo u r h o m e f o r r e a l e s t a t e
Our mobile banking specialists are conveniently located.
604.531.4000
943 Parker St., White Rock $1,538,000
Meet Paul Olak your local Coast Capital Savings Mobile Banking Specialist. Paul will come to you where you are, whenever it works for you. Because when it comes to mortgages, you don’t always have time to visit a branch. He can bring you newals, our best products and rates on new mortgages, renewals, and even construction or development financing. So give Paul a call, he’d love to help. Paul Olak 604.786.3267 paul.olak@coastcapitalsavings.com coastcapitalsavings.com
Affordable opportunity to own near the beach! Stunning 6 year old custom built 4 bed, 3 bath home with ocean views. Open concept design. Gourmet chef’s kitchen, custom millwork and loads of cupboard space. Living room has slate fireplace opens up to front deck and ocean views. 5 decks give you plenty of space to entertain inside or out. Quality workmanship throughout. Large covered patio leading to private, fully fenced, west facing back yard. Upper level hosts 3 large bedrooms, additional family room and sundeck. Spacious master with luxurious ensuite and private balcony with ocean view. Prime location close to schools, shopping, restaurants and only steps to the beach. Meticulously maintained and shows a 10! Make an appt today!
Beautiful spacious cottages in a natural setting, an exclusive clubhouse with pool, and abundant recreational possibilities makes Bridal Falls a one-of-a-kind resort ownership opportunity in Canada
IF YOU’RE READY TO DOWNSIZE, BUT NOT READY FOR A CONDO, OR LOoKING TO PURCHASE a second home getaway, WE have it all. COTTAGE SHOW HOMES OPEN DAILY 11 - 4 53480 BRIDAL FALLS RD, BRIDAL FALLS, BC 604.745.4104
DiscoverBridalFalls.com
224,900
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VANCOUVER EASTSIDE
THURSDAY, AUGUST 4, 2016
Looking for a new home? Start here.
R E A L
E S T A T E
W E E K L Y
Condo-Apartment Construction Investment Leaps by 53%: StatCan ew housing construction investment in BC was up 31.9 per cent year over year, according to the latest Statistics Canada figures, led by a leap of 53 per cent for apartment-condo buildings. Apartment-condos overtook detached homes as the housing type with the most investment in the province in May, up 4.3 per cent from April of this year to $419 million. May’s total new housing construction investment in BC of $937 million was just shy of April’s record-breaking $945 million, but still well above the previous record of $874 million from October 2015. The 0.9 per cent monthly dip
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was primarily caused by a 7.3 per cent decrease in single-family home construction from April’s high of $430 million to $399 million in May, although investment in this home type was still up 17.4 per cent year over year. Townhouse and row house construction was up 35.5 per cent year over year to $90 million, a 5.1 per cent increase from April. Year-over-year duplex investment dropped again, down 6.3 per cent to $27.8 million, although this was up 3.8 per cent month over month. BC’s new housing construction investment was second only to that of Ontario, which spent $1.7 billion in May. However, the yearover-year percentage increase was larger for BC, with Ontario seeing
24.3 per cent growth. In contrast to the strong yearly gains in BC and Ontario, investment in new housing construction fell in more than half of Canada’s provinces and territories: Newfoundland and Labrador, Nova Scotia, Quebec, Manitoba, Saskatchewan, Alberta and Nunavut all saw year-over-year declines. Alberta’s 31.4 per cent drop was its 11th consecutive yearover-year decline. The gains in Ontario and BC pushed national new housing construction up five per cent year over year to $4.2 billion in May, although this was a dip of 2.3 per cent from
April. Most of the yearly gain came from higher investment in apartment-condominium construction, which rose 17.2 per cent year over year to $1.5 billion nationwide. Row house construction also increased nationally, rising 13.4 per cent to $454 million. Like the previous month, yearover-year investment in duplexes was down nationally, dropping 10.7 per cent to $206 million. Investment in single-family homes was also down year over year for the first time since February, dipping 2.6 per cent to $2 billion for the country as a whole.
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