The B.C. government now requires all strata properties greater than five units to have a common property depreciation report completed generally by the end of 2013.
Numbers from city hall provide an initial postmortem of a controversial program of financial and other incentives for developers to build market rental homes in Vancouver.
Chinatown is in decline. Rents are low and vacancies are long. Businesses are closing. Property values and sales haven’t improved in years. Crime is rampant, especially drug-dealing.
The controversial program that sought to encourage the construction of market rental housing in Vancouver through financial and other forms of incentives ended on December 15, 2011.
Tsur Somerville may be the director of UBC’s Centre for Urban Economics and Real Estate, but he gave a rather surprising answer when asked about the prospects for Metro Vancouver’s housing market in 2012.