Naru Menon’s Blog

BC's housing starts are at a decade-low, with projections at 7.5 units/1K people in 2024. Factors like high land costs, construction costs, and interest rates are limiting housing growth in BC.

The Clean Buildings Tax Credit offers B.C. residents 5% refunds on energy-efficient retrofits before April 1, 2026. Upgrading to energy-efficient windows and doors minimizes heat loss, lowers energy bills, and enhances year-round comfort.

New B.C. regulations mandate proactive planning for strata buildings, revolutionizing property management and future repairs.Mandatory depreciation reports for buildings over five strata lots must be updated every five years, starting July 1, 2024.

BCREA urges changes to BC's short-term rental ban to address negative impacts on key sectors. The ban impacts medical staff, event attendees, film workers, and others needing temporary housing.

Housing Policies Influence Voting: 81% of respondents say housing policies are critical in their election choices. Housing Policies Influence Voting: 81% of respondents say housing policies are critical in their election choices.

B.C.'s property transfer tax (PTT) is outdated, with rates unchanged since its 1987 introduction. Originally a “luxury tax,” the PTT now affects nearly all home sales due to inflated property values.

Increased Sales: Early-Q4 saw a significant boost in home sales across B.C. despite flat numbers in Late-Q3.Rate Expectations: Experts expect a 0.5% cut, which could slightly increase market activity.