Hasan Juma

3 Important Changes to BC Real Estate as of January 1st: 1. Anti-Flipping Tax - Sell a residential property within one year of purchase, profits get taxed as business income. Some exceptions including divorce, employment change, and insolvency. (A thread) #vanre #vancouver

Vancouver is about to get its first supertall skyscraper. 595 West Georgia Street will rise to a height of 314-metres, flanked by two further towers as part of the city's Georgia and Abbott development. Commenting on its design, Henriquez Partners Architects said: "The project tells a story unique to British Columbia, inspired by rare and ancient glass sea sponge reefs: living structures found off the BC coast that demonstrate strength and adaptability. Informed by the sea sponge’s structural ingenuity and ecological purpose, the towers offer a uniquely Vancouver expression of sustainability, beauty, and vertical urbanism." In total, the development will create 1,939 new homes and a 920-room hotel alongside new conference facilities and public amenities. As part of the plans, a separate 120-metre tower will rise at 388 Abbott Street and contain social housing units (image 4). 📷 Henriquez Partners Architects

Okay this Ottawa/Carolina game is getting insane 🔥

Purpose built rentals in metro Vancouver are taking 6-9 months to get half full. 3-6 months later they are down to 30-40% occupancy.

B.C. Premier David Eby has lost serious, unrecoverable credibility over his handling of DRIPA.

Joined CBC’s BC Today Show today to talk presale market - are we officially experiencing a presale collapse? 👇🏽👇🏽 youtube.com/live/Uctpy7Ep-… via @YouTube #vanre #vancouver

WATCH: BC Landlords Could LOSE This Right youtu.be/GUP5DrVwKYM?si… via @YouTube #vanre #vancouver

WATCH: Did Buying a Presale Condo Just Get Riskier? youtu.be/kffzwglK2x8?si… via @YouTube #vanre

@kbessey The square footage of the unit was less than estimated at time of presale purchase. The disclosure statement does have a provision for this to protect the buyer - still a PITA to deal with

Wait… Smaller? As in the price was assessed “smaller” or the square footage of the delivered unit is less than at purchase?

As if presales needed to take another L right now… Just heard of a unit in a Vancouver condo project coming in 25-30% smaller at completion than estimated in the marketing. Oof.

@kbessey Wow, no words 😂

Real estate marketing is so good its convinced people the consequence of a bad layout is an additional room you’re supposed to pay extra for.

@BcMeggster @YouTube Essentially yes, back when presale condos were appreciating quickly, initial purchasers would “flip” the unit before completion, having only put the presale deposit down.

@hasanjuma @YouTube Hey.. just watched the video. There is a part you explain that pre-sale depositors are not closing. You also mention they usually deposit 10-20%. Is that how the pre-sale market has been flipping? Only paying 20% a& flip it with a ponzi/or re-sell at completion, not really buy?

WATCH: Vancouver Presale COLLAPSE - This Just Got Worse youtu.be/hnKkudm4JPc?si… via @YouTube #vanre #vancouver

From what I have heard at the Vancouver Real Estate Forum, BC will soon be getting funding from the federal government to cut development charges, similar to Ontario. #vanRE

WATCH: Ontario Bails Out Condo Developers - Is Vancouver Next? youtu.be/YIRlawWQZx0?si… via @YouTube #vanre #vancouver

WATCH: Will Your Property Value FALL as Population Declines? youtu.be/7lT9TSJU30I?si… via @YouTube #vanre

A Major Change That Could Affect Home Values: @hasanjuma/note/p-191126588?r=389epn&utm_medium=ios&utm_source=notes-share-action" target="_blank" rel="nofollow noopener">substack.com/@hasanjuma/not… #vanre #vancouver

If you grew up in the 90’s you got to experience: - a magical era of hiphop and R&B, music that would literally move your soul, and… - the most obnoxious DJs shouting nonsense over every chorus and hook like it was their track Take me back. 🎵

WATCH: Did the Government Just GIVE AWAY Your Property Rights? youtu.be/B2QxL6SzwQQ?si… via @YouTube #vancouver

WATCH: MAJOR Shift in How Vancouver Condos Are Being Sold youtu.be/32k3OlIqqp4?si… via @YouTube #VanRE #vancouver

Major B.C. developer's financial struggles cited in text messages, court filings say vancouversun.com/news/major-bc-…