[archited]

^ This (so far) only applies to Toronto and Vancouver. Both of these cities, like NYC, have foreign investors who pay oversized sums for so-called "prestige" apartments. The downside of this phenomenon is that housing prices are artificially raised as an outcome. This has not been a problem for Edmonton to date.

 

[kcantor]

How does that work for people trying to sell a vacant unit out of curiosity? Are there any caveats for single unit owners who lived there a certain amount of years and have decided to move and thus the unit is vacant?

I know very little about this stuff.

Vancouver's tax does not grant an exemption for an "ex" principal residence. Once it has been vacant for 180 days, the tax "kicks in" even if the property is listed for sale regardlss of whether it was a principal residence or a rental. Once sold, the tax won't apply to the purchaser as of the date of sale (they get a new 180 day clock) and the vendor only pays up to the date of the sale. The only ongoing exemption I'm aware of is if the property is actively undergoing "major renovations" (planned renovations don't count. To qualify, all permits must have been issued, work must be underway, and the scope of the work must be such that the property is uninhabitable.

 

[policyenthusiast]

Small Scale Housing

Bylaw #​ Nbhd​  Rezoning from:​ Rezoning to:​  Vote​ District Plan Designation ​  21320​ Belvedere​ RS​ RSM h14​ 13-0, Passed​ 149 Street Secondary Corridor​  21306​ Strathcona​  RS​  RSM h12​  13-0, Passed​  Urban Mix​ 21304​ Westmount​ DC2.1126​ RSM h12​ 12-1, Passed (Principe Opposed)​ Stony Plain Road Primary Corridor​ 21305​ Highlands​ RS​ RSM h12​ 10-3, Passed (Salvador, Principe, and Clarke Opposed)​ Urban Mix​ 21311​ Mayfield​ RS​ RSM h12​ 0-13, Failed (see below)​ Urban Mix​ 21308​ Forest Heights​ RS​ RSM h12​ 12-1, Passed (Principe Opposed)​ Local Node​

Medium and Large Scale Housing

Bylaw #​ Nbhd​  Rezoning from:​ Rezoning to:​  Vote​ District Plan Designation ​  21310​ Inglewood​ MU h16 f3.5 cf​ RM h16​ 13-0, Passed​ 118 Avenue Primary Corridor​  21330​ Mayfield​  RS​ RM h16​  13-0, Passed​ 156 Street Secondary Corridor​  21321​  Delwood​ CN, RS​ MU h16 f2.0​ 13-0, Passed​  137 Avenue Primary Corridor​ 21307​ Boyle Street​ IM​ MU h23 f3.0​ 13-0, Passed​ Stadium District Node​ 21334​ Calder​ RS​ MUN​ 13-0, Passed​ Local Node​ 21309​ Allendale​ RS​ RM h16​ 13-0, Passed​ Urban Mix ​

Employment and Industrial

Bylaw #​ Nbhd​  Rezoning from:​ Rezoning to:​  Vote​ District Plan Designation ​  21335​ McArthur's Industrial​ AG​ BE​ 13-0, Passed​ Urban Mix​

 

[Greenspace]

The Boyle Street rezoning is right next to Stadium Yards, will be a good addition. (Store Fixtures by Westmount site).

 

[bodsbods9090]

What is considered Large Scale Housing in this sense?

 

[policyenthusiast]

What is considered Large Scale Housing in this sense?

Height max 50 or 65m, with FAR of 4.5 or 5.5

Meant to categorize zones for 9-20 stories. Not sure about unit counts.

EDIT: Here's the full description.

 

[Stevey_G]

Vancouver's tax does not grant an exemption for an "ex" principal residence. Once it has been vacant for 180 days, the tax "kicks in" even if the property is listed for sale regardlss of whether it was a principal residence or a rental. Once sold, the tax won't apply to the purchaser as of the date of sale (they get a new 180 day clock) and the vendor only pays up to the date of the sale. The only ongoing exemption I'm aware of is if the property is actively undergoing "major renovations" (planned renovations don't count. To qualify, all permits must have been issued, work must be underway, and the scope of the work must be such that the property is uninhabitable.

That’s reasonable. A property fairly priced in the lower mainland will never sell in more than 3 months.

 

[IanO]

 

[IanO]

 

[inclusion]

That drop in population growth is concerning. Perhaps we swung too far in the other direction on immigration, which often occurs when knee-jerk policy decisions are made.

 

[Kosy123]

That drop in population growth is concerning. Perhaps we swung too far in the other direction on immigration, which often occurs when knee-jerk policy decisions are made.

It's what popular will demanded. I don't doubt that we're still going to get good pop growth numbers in Edmonton based on inter and intra-provincial numbers, we still did good on those even throughout 2015-2019 outperforming Calgary.

But I wouldn't be surprised if we get a severe labour crunch and the pendulum swings the other way again before the end of the decade.

 

[IanO]

ATB | Alberta Real Estate: The Forces That Defined 2025 and Will Shape 2026

Alberta’s Real Estate Market at a Turning Point

interactive.atb.com

 

[David A]

ATB | Alberta Real Estate: The Forces That Defined 2025 and Will Shape 2026

Alberta’s Real Estate Market at a Turning Point

interactive.atb.com

Always safe to predict a continuation of the present and perhaps that will turn out to be how it goes, but I feel real and the most useful insight is to pick up on things others haven't noticed yet.

 

[David A]

It's what popular will demanded. I don't doubt that we're still going to get good pop growth numbers in Edmonton based on inter and intra-provincial numbers, we still did good on those even throughout 2015-2019 outperforming Calgary.

But I wouldn't be surprised if we get a severe labour crunch and the pendulum swings the other way again before the end of the decade.

I think Edmonton will be ok for growth, but that is my concern too, the over reaction will lead to labour problems in several years. I hope the government will be smart enough to ease up on the immigration restrictions before that happens.

 

[ChazYEG]

I think Edmonton will be ok for growth, but that is my concern too, the over reaction will lead to labour problems in several years. I hope the government will be smart enough to ease up on the immigration restrictions before that happens.

The plan is to bring it down to manageable levels now, to alleviate current pressures and also give time to rework the whole immigration program (focus on attracting more skilled people in areas the country needs). If they will act according to that plan remains to be seen, however,