Metro Vancouver real estate commentator reflects on past predictions, and looks at what may be in store in 2023. Find out more.
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However, in the coming year, there could be increased demand for alternatives to condominium living, with corresponding regulatory changes. One reason is many condominium owners disagree with theThere is also the desire for more housing choices within established single-family neighbourhoods. Small developments of individually owned rowhouses could fit nicely.Article content
In recent years, co-operatives have been developed for lower-income households, usually with government subsidies. However, in the future, some higher-income households may find a New York-style co-op more appealing than a condominium since municipal, provincial, and federal speculation and vacancy taxes will not apply. B.C.’s property transfer tax and companion foreign-buyers tax will also generally not apply.
Locally, North Vancouver-based Hollyburn Community Services Society has been exploring, with Canada Mortgage and Housing Corporation and
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