The most expensive, what they sold for, and who sold them.
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Real estate is booming, so why are so few developers on the Top 100 list of B.C.’s biggest companies? Mainly because revenue, our basis for ranking companies, is one bit of information few developers are willing to disclose.
But it also has to do with how the revenues of development companies are calculated. Residential developers – the most obvious candidates to rank among the major corporate players in the province – typically don’t receive the majority of sales revenue from pre-sales until a project completes.
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When a 300-square-foot house hit the market in Toronto last year at an asking price of $179,000, it was an instant media sensation.
Yes, it was outrageous. But here in Vancouver, a recent Century 21 Canada survey touted a 412-square-foot one-bedroom downtown condo as just the thing for first-time homebuyers. The price? A mere $281,000, or $682 a square foot. The Toronto shoebox? Just $596 a square foot.
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It’s time to rethink our green zone.
Two factors are clearly emerging as potential brakes on continued prosperity and economic growth in Greater Vancouver. The first is the worsening crisis in housing affordability and the second is the increasing difficulty in locating appropriately situated land for industrial use.
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Check out these tips from the Financial Institutions Commission of B.C.’s guide,
What to Know About Contracting With a Strata Property Manager.
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A new real-estate licensing act was supposed to whip condo governance into shape and open the door to a new, professional, sophisticated breed of strata manager. But the result, reports writer Alison Appelbe, has been higher fees, fewer management firms, slicker managers – and a bunch of frustrated residents.by
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Online medical consultations, direct ferries to Seattle, technology vying with forestry for top spot among the province’s employers… Sounds like the stuff of science fiction, but when we asked experts to gaze into their crystal balls, this is the scenario they envision for B.C. just four years from now.
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The economies of central Canada and the U.S. might be stalling, but experts say the thundering hooves won’t slow down out west anytime soon.
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