Please click podcast listen to Cantonese interview

In Canada, confidence remains high coming off good results in 2011, and as long as businesses and consumers remain motivated by the underlying fundamentals and not the headlines, the country’s markets can anticipate ongoing improvement.

Office

Leasing activity was strong across Canada’s office markets in 2011, with vacancy rates decreasing and rental rates trending upward in most markets nationwide.

Retail

The increasing number of new U.S. retail chains entering Canadian markets was noted in almost all cities as Canada’s relative stability, high consumer confidence and healthy retail spending, coupled with proximity to American distribution systems, boosted the country’s appeal for companies wary of further U.S. expansion. On the heels of Victoria’s Secret and Bath & Body Works opening stores in 2010, others followed. In 2011, Canadian consumers welcomed the likes of J. Crew, Express and Marshalls, to name a few. All this activity, of course, is paving the way for U.S.-based giant Target Corporation’s roll-out of roughly 135 stores in early 2013

Industrial

Vacancy rates are declining in most of Canada’s industrial markets as space is steadily absorbed. Stability and modest growth are reported across the country, with some markets anticipating the return of speculative development in 2012.

Investment

Unlike 2009 and the early part of 2010, when product and buyers were largely non-existent, the investment market is back and robust with the relatively ready availability of debt (due to continued historically-low interest rates) creating a large pool of buyers – particularly the Real Estate Investment Trust (REIT) sector. This situation has elevated prices to pre-credit-crisis levels in many markets. A limited supply of highly contested product – as witnessed by an increased number of bids – has resulted in further cap-rate compression

SUMMARY

In all, commercial real estate investment activity in Canada surged to almost $15 billion through the first three quarters of 2011 – nearly $2 billion, or 16%, higher than the same period one year prior. This figure could equal or surpass the $20-billion mark as there were a number of transactions in the final stage of negotiation during the closing months of 2011. For 2012, these trends are expected to continue, tempered only by a scarcity of high-quality assets and the spectre of international economic difficulties.

Review of the current marketplace:

In addition to the Vancouver area being positive and vibrant, based on past 2011 transactions, there is a wide variety of quality projects to suit every investors liking. At this time in January 2012, there are many projects for sale with solid income between $3,000,000 and $20,000,000. A small sample includes 2 Retail Stores or Plazas, 6 Industrial Warehouses, 2 Office Buildings, 4 Hotels, and 7 Multi Family (Apartment Buildings) investments.

These GST, PST, HST games are giving us lots of confusion in the past few years. This has create more works for lawyers, accountants & more grief to the public. Anyway, want to know how this affects your presale contract, recreational property, vacant land purchase& new rental housing rebate,
click Information about the new HST/PST housing transitional rules to read more.

OK Economists, can u predict how our B.C. housing market is going to be like for the rest of the year when the govt is introducing a new HST threshold rebate from 525kk to 850k, rebate amount up from $26,250 to $42,500? This new rule comes effective on April 1st, 2012 to April 1st, 2013 when the HST will officially be gone. More than 90 per cent of newly built homes sold in B.C. are below the new higher rebate threshold.

Click Transition measures support new-home buyers, builders to read more.

Vancouverites, are you proud? or are you worry? We are #37 most expensive city in the world, up from 72nd last yr. No matter it’s a place or a person. When you shine, you’ll always get complements as well as criticism. Can you own a home here? yes, you can but require some good planning & spending discipline. Read more on Vancouver now the most expensive city in North America 

Tina Mak Personal Real Estate Corporation
Vancouver Radio Realtor AM1320
www.TinaMak.com
www.Tina Mak.ca 温哥华中文地產網站
www.GenYrealestate.ca
604-412-5860
Empowering Knowledge To Make Sensible Decision

Strata Property Act Amendments effective December 2013

Please click podcast  listen to Cantonese interview

By December 2013, all strata building needs to have a Depreciation Reports for maintenance purpose.

Depreciation reports which estimate the repair, the replacement cost & the expected life of major item will be required.

It must be prepared by a qualified person who has the knowledge & expertise to understand not just inspecting the strata building but that the strata corporation is responsible to maintain or repair under the Act & prepare a depreciation report that complies with the Act. The professional teams could involve contractor, engineer, accountants. Here are the major items:

- Building structure

- Building exterior including roof, roof decks doors, windows skylights

- Building systems including electrical, heating, plumbing, fire protection, security

- common amenities

- parking facilities & roadways

- Utilities, including water & sewage

- Landscaping, paths sidewalks, fencing irrigation

- interior finishes including floor covering & furnishings

- Green building components

- Balconies & patios

The report must also include a financial forecast on anticipating maintenance, repair & replacement costs for all the major items.

Which buildings could have the exemption:

1) the owners have passed a resolution approved by a 3/4 vote that waives the requirement.
2) the Strata Corporation has fewer than 5 Strata Lots.

Potential value depreciation: Should owners of the building vote against preparing this depreciation report, there is a great potential that buyers might not wanting to buy into this building. Banks might not want to fund the buyer who wants to buy into the building.

By March 1st, 2012, all Form B is required the attachment of “most recent Depreciation Report, if any”.

Alberta strata buildings have been providing this depreciation report for a long time. It is actually very good for the building & maintaining the value of the building for the owners. In my opinion, this will definitely reduce the potential special levy on major repairs. Prevention is better than cure. Buyer always like to buy well maintain property regardless it is strata or detached house.

Tina Mak Personal Real Estate Corporation
Vancouver Radio Realtor AM1320
www.TinaMak.com
www.Tina Mak.ca 温哥华中文地產網站
www.GenYrealestate.ca
604-412-5860
Empowering Knowledge To Make Sensible Decision

January housing stats from Greater Vancouver Real Estate Board shows January listings shoot up compared to the past January stats. It’s predictable because of the early Chinese NY. We’ll see the real sales # at the end of Feb. The fact is housing price is holding steady. Sellers – please be realistic!

Click here to read the full statistics for January 2012

Tina Mak Personal Real Estate Corporation
Vancouver Radio Realtor AM1320
www.TinaMak.com
www.Tina Mak.ca 温哥华中文地產網站
www.GenYrealestate.ca
604-412-5860
Empowering Knowledge To Make Sensible Decision

Click here to read the full statistic for December 2011

Tina Mak Personal Real Estate Corporation
Vancouver Radio Realtor AM1320
www.TinaMak.com
www.Tina Mak.ca 温哥华中文地產網站
www.GenYrealestate.ca
604-412-5860
Empowering Knowledge To Make Sensible Decision 

Tina Mak Personal Real Estate Corporation
Vancouver Radio Realtor AM1320
www.TinaMak.com
www.Tina Mak.ca 温哥华中文地產網站
www.GenYrealestate.ca
604-412-5860
Empowering Knowledge To Make Sensible Decision

Please click to read Victory Jan 2012 stats 

Tina Mak Personal Real Estate Corporation
Vancouver Radio Realtor AM1320
www.TinaMak.com
www.Tina Mak.ca 温哥华中文地產網站
www.GenYrealestate.ca
604-412-5860
Empowering Knowledge To Make Sensible Decision

Year of the Dragon heats B.C. real estate market

Most realtors in Vancouver expect & experiencing v busy time during Chinese NY. This year no exception. However, I’ve spoken to managers in the Westside, Burnaby & White Rock. Their feed back is agents are very busy doing showings but not many action. Let see what the real sales number is in few weeks & how it compares to the CBC News article on Year of the Dragon heats B.C. real estate market.