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Month: March 2012

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Aspac Developments Kwok Brothers Arrested in Hong Kong – Vancouver Real Estate News

Two billionaire brothers who played a role in shaping Vancouver’s Coal Harbour and Richmond’s post-Olympic legacy have been arrested in Hong Kong on suspicion of corruption.

Raymond and Thomas Kwok, who are among owners of Sun Hung Kai Properties, have been arrested by Hong Kong’s Independent Commission Against Corruption in the agency’s biggest investigation since it was set up in 1974 to root out what was seen as widespread corruption in the government and police.

Sun Hung Kai Properties, Asia’s largest real estate developer, saw its market value plummet by $5 billion on the news.

In Metro Vancouver, the Kwoks’ subsidiary Aspac Developments Ltd., currently is developing River Green, a luxury riverfront community on lands adjacent to the Richmond Olympic speedskating oval, for which the firm paid $141 million to purchase in 2008.

Shocking!

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by Maggie Chandler Maggie Chandler No Comments

Many More Wealthy Chinese Still to Immigrate – Vancouver Real Estate News

Slower growth and doubts about accounting are leading international investors to rethink China. That’s precisely what the Chinese themselves are doing. As they diversify beyond the borders of the Middle Kingdom, the value of global property assets could benefit.

Chinese companies are hiking the pace of international diversification. The value of outbound acquisitions exceeded that of inward deals in 2011, according to Thomson Reuters data. Outbound investment rose by 9 per cent to $59-billion (U.S.) in 2011, and the flow may be only just beginning. China’s economy is now bigger than that of Japan’s, yet in 2011 overseas investment was only about a sixth of its neighbour’s

Twice as many citizens with over $15M are still to immigrate

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by Maggie Chandler Maggie Chandler No Comments

Drilling Down on Vancouver Condo Stats – Real Estate Market in Vancouver

Clients ask me lots of good questions such as what’s the sales to listing ratio for different sizes of Vancouver condos?  Which size has the best sales/listings ratio?

If you’re a motivated seller, this condo stat will help you to  price your property right. It’s a good buyers market! Condos under 600sf are the winner!

February 2012 for Vancouver (west side)

Number of solds vs listings

  • under 600sf – 68/267**
  • 600-700sf -49/236
  • 700-800sf -32/249
  • 800-900sf -50/232
  • 900-1000 -44/198
  • 1000-1100 -37/191
  • 1100-1200sf -19/116
  • 1200-1500sf -64/407
  • 1500-2000sf – 15/102
  • 2000-3000sf – 7/97

Buying or selling Vancouver Real Estate?

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  • all coupled with decades of experience providing trustworthy real estate advice
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View my other Vancouver stats

What are you looking for? If you’re not finding what you’re looking for, please tell me what you want!

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by Maggie Chandler Maggie Chandler No Comments

Meet the Safety Deposit Box Condo – Vancouver Real Estate News

A Toronto developer has plans under way to develop what they believe will be the first condominium building comprised of safety deposit boxes.

Parallax Investment Corporation has purchased a lot in Markham, Ont., to construct its 16,000 sq. ft. ultra high-tech security project comprised of safety deposit boxes that range in size. About half the project will be devoted to client parking, and 2,000 sq. ft. of it will be vault space. There will be around-the-clock security, client reception areas, and small private suites.

Share your comments…would you buy one?

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by Maggie Chandler Maggie Chandler No Comments

Pacific Rim exceeds US for BC exports | Northwest Business

VICTORIA – The increasing value of British Columbia’s economic ties to Asia and the Pacific Rim were underscored in year-end export numbers.

Goods shipped to China and South Korea hit record levels and, for the first time, export levels to the Pacific Rim outstripped those to the United States. BC’s total exports grew 14.2 per cent to $32.8 billion in 2011.

Exports to key Asian markets identified in ‘Canada Starts Here: The BC Jobs Plan’ were up considerably in 2011. Last year, BC’s exports to China reached $5.1 billion, an increase of 24 per cent from 2010 – and a 442 per cent increase since 2001. Goods shipped to Japan rose by 12 per cent to $4.7 billion last year, while those to South Korea were up by 45 per cent to $2.7 billion. Exports to India rose by 49 per cent to $201 million.

In 2011, the value of exports destined for the Pacific Rim was 43 per cent, up from 36 per cent in 2009.

Vancouverreflections – this bodes well for our economy, our ports, jobs and real estate!

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by Maggie Chandler Maggie Chandler No Comments

What’s the Average Price Per Square Foot for Vancouver (West) Real Estate?

What’s the average price psf for Vancouver homes, townhomes and condos over the last two years? what are prices doing?

Houses and condos are up and townhomes are down a tad. In fact the average price psf for condos is now higher than townhomes.

Why? i’d make a guess that they’re more luxury condos selling than a few years ago.

Average Price Per Square Foot for Vancouver West.

Buying or selling Vancouver Real Estate?

  • I come armed with stats and graphs
  • strong interpersonal skills
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  • all coupled with decades of experience providing trustworthy real estate advice
  • Leave a comment on Facebook, at the bottom of this post

View my other Vancouver stats

What are you looking for? If you’re not finding what you’re looking for, please tell me what you want!

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by Maggie Chandler Maggie Chandler No Comments

Average Sales Price for Vancouver (West) Real Estate

How is the average sales price for Vancouver (west) homes, townhomes and condos over the last two years? up or down?

Average Sales Price for Vancouver West.

Buying or selling Vancouver Real Estate?

  • I come armed with stats and graphs
  • strong interpersonal skills
  • hyperlocal info
  • educate you about the market and the process
  • all coupled with decades of experience providing trustworthy real estate advice
  • Leave a comment on Facebook, at the bottom of this post

View my other Vancouver stats

What are you looking for? If you’re not finding what you’re looking for, please tell me what you want!

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by Maggie Chandler Maggie Chandler No Comments

How are Real Estate Sales in Vancouver’s West End?

How are real estate  sales in Vancouver’s waterfront neighbourhood the West End? Down!

February had 30 sales,  up from 21 in Jan’12. The best month was Jun ’09 with 90.

Jan’09 with 18 solds was the lowest month in the past six years.

Sales for VW-West End VW.

Buying or selling Vancouver Real Estate?

  • I come armed with stats and graphs
  • strong interpersonal skills
  • hyperlocal info
  • educate you about the market and the process
  • all coupled with decades of experience providing trustworthy real estate advice
  • Leave a comment on Facebook, at the bottom of this post

View my other Vancouver stats

What are you looking for? If you’re not finding what you’re looking for, please tell me what you want!

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by Maggie Chandler Maggie Chandler No Comments

Vancouver’s Economic Growth to Dip Slightly in 2012 But Jobs Will Grow

Vancouver’s economic growth will slow this year after a rebound in the previous two years, according to the Conference Board of Canada. The think-tank predicts local GDP will increase 2.5 per cent this year, down 0.6 per cent from last year and a full point below 2010 which was driven by Olympic and federal stimulus spending.

The board says, “local businesses lost some steam toward the end of last year, putting the local economy on a weaker footing going into 2012.” It adds, “Consumer spending sputtered in 2011, with retail sales growth reaching a lackluster 1.8 per cent.”

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by Maggie Chandler Maggie Chandler No Comments

What is the Average Real Estate Sales Price Vancouver’s West End

How is the real estate market in Vancouver’s West End? Is the average sales price up or down?

  • Average sales price sits at $724,741
  • it peaked at 3917,471 in Jan’12.
  • the highest price prior to that was $809,254 in Oct’11
  • then $768,329 in Nov’09

Average Sales Price for VW-West End VW.

Buying or selling Vancouver Real Estate?

  • I come armed with stats and graphs
  • strong interpersonal skills
  • hyperlocal info
  • educate you about the market and the process
  • all coupled with decades of experience providing trustworthy real estate advice
  • Leave a comment on Facebook, at the bottom of this post

View my other Vancouver condo neighbourhood stats.

What are you looking for? If you’re not finding what you’re looking for, please tell me what you want!

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by Maggie Chandler Maggie Chandler No Comments

How is the Real Estate Market in Vancouver’s West End?

How’s the real estate market in Vancouver’s West End.  Are condo listings up or down? Currently supply outstrips demand

Total Inventory for VW-West End VW.

Buying or selling Vancouver Real Estate?

  • I come armed with stats and graphs
  • strong interpersonal skills
  • hyperlocal info
  • educate you about the market and the process
  • all coupled with decades of experience providing trustworthy real estate advice
  • Leave a comment on Facebook, at the bottom of this post

View my other Vancouver stats. Keep up to date with Vancouver’s real estate news, search for homes. Review the entire Buying and Selling Process. Dine out in the City

What are you looking for? If you’re not finding what you’re looking for, please tell me what you want!

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by Maggie Chandler Maggie Chandler No Comments

Average Sales Price for Vancouver Real Estate in Coal Harbour

Coal Harbour is Vancouver’s premier waterfront condo neighbourhood, consisting of only 33 buildings and now built out.

The current average sales price sits at $1,275,179 for February 2012.  It also sat at this price point in August’08, January and November’09 and December’10. Coal Harbour’s price peaked in November ’11 at $1,766,741.

Average Sales Price for VW-Coal Harbour.

Buying or selling in Vancouver’s Downton?

  • I come armed with stats and graphs
  • strong interpersonal skills
  • hyperlocal info
  • educate you about the market and the process
  • all coupled with decades of experience providing trustworthy real estate advice
  • Leave a comment on Facebook, at the bottom of this post

View my other Vancouver stats. Keep up to date with Vancouver’s real estate news, search for homes. Review the entire Buying and Selling Process. Dine out in the City

What are you looking for? If you’re not finding what you’re looking for, please tell me what you want!

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by Maggie Chandler Maggie Chandler No Comments

Notary Public’s Alleged Ponzi Scheme – Real Estate News in Vancouver

Vancouver notary Rashida Samji has retained high-profile lawyer Rod Anderson of Harper Grey LLP to represent her as the B.C. Securities Commission and RCMP ramp up their investigation into her alleged involvement in an estimated $40-million Ponzi scheme.

Anderson is the go-to guy for people who are implicated in securities cases. Other high-profile clients include Victoria investment adviser Ian Thow, who perpetrated a $10-million investment fraud in 2004, and Vancouver geologist John Patterson, who is facing criminal charges in an allegedly bogus assay scheme.

Both the BCSC and the RCMP have made the Samji case a top priority. The commission has seized files from Samji’s notary office and the RCMP, in turn, have seized those files from the commission’s office. RCMP have also executed a second search, details of which have not yet been made public.

BCSC enforcement staff are expected to issue a notice of hearing within a few weeks. That document would presumably cite Samji for alleged securities offences and order her to appear before a hearing. The RCMP investigation will take months, if not years.

Posted on Vancouver Real Estate-Vancouver Homes For Sale

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by Maggie Chandler Maggie Chandler No Comments

Will Spain Welcome Euro Vegas ? Vancouver Real Estate News

The news that the owner of world’s largest casino group is planning to build a Las Vegas style casino strip in Spain is dividing opinion.
Las Vegas Sands, owned by US billionaire Sheldon Adelson is currently in talks with Spain’s two biggest cities, Madrid and Barcelona, to build a complex which reportedly will have six casinos, 12 hotels, nine theatres and three golf courses.
The scheme promises to invest €16 billion creating 260,000 jobs when it completes in five years time.
However, a citizens group called “Eurovegas No” is questioning the job creation figures and warning the project will draw organised crime and prostitutes.
“The numbers which they are selling us are not real. This is a repeat of a growth model based on excessive construction. It is not a source of sustainable jobs,” said one of the organisers of the group, Ana Sanz.

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by Maggie Chandler Maggie Chandler No Comments

Marine Gateway Presales Attracts Asian Investors – Homes for Sale in VAncouver

VANCOUVER — Saturday’s four-hour blowout sale of 415 homes at Marine Gateway will be followed by similar quick sales at other condo towers this year, but don’t expect a return to the heady pre-recessionary days when every project sold out quickly. That’s the word from an executive with real estate market firm MPC Intelligence, who said location, price and strong marketing are key for developing major consumer interest.

“The developer and marketing company did a really good job [with Marine Gateway],” said MPC senior manager Jeff Hancock. “It was the perfect storm to attract the type of buyer that’s still prolific in the market, Asian investors. The location had a huge impact and they priced the project right. They weren’t greedy.

We’ll see it again in Metrotown, where there’s similar types of demand, because it’s near SkyTrain and close to amenities.

It’s all about transportation and price!

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by Maggie Chandler Maggie Chandler No Comments

Robert Dunsmuir’s Great Grandson Honours Captain Cook – Real Estate News in Vancouver

A piece of First Nations art gifted to Captain James Cook has found its way home.

The University of British Columbia Museum of Anthropology on Tuesday unveiled a ceremonial war club carved from a yew tree in the mid-1700s and given to Cook by Vancouver Island’s Mowachaht-Muchalat people during his final voyage.

Donated by real estate developer Michael Audain, the artifact, valued at $1.2 million, is “the oldest known and most finely executed club” of its style.

“This is one of the most exciting days of my life. Captain James Cook is undoubtedly one of the greatest explorers who ever lived,” said Audain, who lists the British navigator’s life and First Nations art as his two foremost passions. Read more

by Maggie Chandler Maggie Chandler No Comments

What’s the Average Price Per Square Foot for Vancouver’s Coal Harbour

Vancouver real estate prices in the luxury waterfront neighbourhood of Coal Harbour peaked in October 2008, based on average price per sqare foot. The market will move upward again, as the neighbourhood is now built out and totals only 32 condo buildings.

Average Price Per Square Foot for VW-Coal Harbour

Buying or selling in Vancouver’s Downton?

  • I come armed with stats and graphs
  • strong interpersonal skills
  • hyperlocal info
  • educate you about the market and the process
  • all coupled with decades of experience providing trustworthy real estate advice
  • Leave a comment on Facebook, at the bottom of this post

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