Housing Supply Act & Building Strata Statutes Amendment Act passed 

BILL 44: CHANGES TO RENTAL AND AGE RESTRICTION BYLAWS - NOW IN EFFECT
  • Nov. 25, 2022. CHOA Information Release:  NEW LEGISLATION AFFECTING STRATA CORPORATIONS IN BC NOW IN EFFECT
  • BILL 44 INFORMATION WEBINAR: The Condominium Home Owners Association of BC (CHOA) will be hosting a free Bill 44 Information Webinar on November 30, 2022 at 12:00noon. Pre-registration is not required. Please click the following link to join the webinar (Passcode: 925651):  https://us02web.zoom.us/j/84515346938?pwd=VzBmU3crS3E1K1FaTE5yU1JNZkwwQT09 

    For anyone interested the webinar will be recorded and posted on the CHOA YouTube channel.

  •  The BC government is moving forward…

176 Views, 0 Comments

Office of the Premier

New premier delivers action to expand housing supply within first days

Victoria

November 21, 2022

To help deliver more good homes for people, the Province is introducing new laws to build the homes people need, make it possible for homes that are vacant to be rented and remove discriminatory age and rental restrictions in strata's that hurt young families.condo in Victoria

“B.C.’s housing crisis is stressing out and hurting people while it holds back our economy,” said Premier David Eby. “As a first step in my 100-day plan, we are making changes to deliver more homes for British Columbians, faster. We will work with municipalities to set housing targets and make sure the homes people need get built. For those…

611 Views, 0 Comments

BC Housing Taxes and What You Should Know

Property Transfer Tax / Foreign Buyer Tax / Speculation Tax / Underused Housing Tax 

British Columbia has initiated several taxes that all purchasers should be aware of.

Property Transfer Tax:
When you purchase or gain an interest in property that is registered at the Land Title Office, your legal professional must file a property transfer tax return and you must pay property transfer tax, unless you qualify for an exemption. 

Property transfer tax should not be confused with annual property taxes. 
Annual property taxes are paid yearly to your municipal or rural tax office for each property you have a registered interest in to fund services in your area.

Further info on Property Taxes:  

86 Views, 0 Comments

Victoria Market Report 

A slight uptick in sales and inventory, but Victoria real estate market still requires commitment to homes 

November 1, 2022   A total of 480 properties sold in the Victoria Real Estate Board region this October, 35.6 per cent fewer than the 745 properties sold in October 2021 but a 17.1 per cent increase from September 2022. Sales of condominiums were down 39 per cent from October 2021 with 152 units sold. Sales of single family homes decreased 32.2 per cent from October 2021 with 230 sold. 

“Inventory has remained stable this month and for the first time since May 2022, we see a slight increase in the month over month sales,” says Victoria Real Estate Board President Karen Dinnie-Smyth. “We noted last month that the…

1762 Views, 0 Comments