Urban Upgrade & NewInfills

CANADA'S NEW "ANTI-FLIPPING" TAX: WHAT YOU NEED TO KNOW

Posted on Feb 28, 2023 in Real Estate News

On December 15, 2022, Bill C-32 received Royal Assent, which means that the new "anti-flipping" tax has now become law. This new rule applies to any "flipped" residential property sales occurring on or after January 1, 2023.

What is a "flipped property"?
A "flipped property" is a property that is located in Canada, would not otherwise be inventory o...

IS THE HOUSING MARKET HEADED FOR A CRASH?

Posted on Feb 23, 2023 in Real Estate News

National headlines have been talking about a housing market correction lately, and they sometimes use scarier terms like "housing crash" or "housing bust". We've seen major headlines talking about significant price declines already occurring, with stats stating a 20% or 30% price drop is on the horizon, which is jumping out to people and causing co...

COMING SOON: DIGITAL ENERGY LABELS FOR HOMES

Posted on Feb 09, 2023 in Real Estate News

Alberta Ecotrust Foundation has partnered with Lightspark to launch the “Uncovering Real Estate Value through Digital Home Labels” pilot project that will automatically provide the first-ever digital home energy labels for all homes in Calgary and Edmonton.

Alberta Ecotrust Foundation, a charity that leads urban climate change action through their C...

THE BAN ON FOREIGN BUYERS EXPLAINED

Posted on Feb 03, 2023 in Real Estate News

MORE DETAILS RELEASED ON THE FOREIGN BUYERS BAN:

On Wednesday, December 21, 2022 the federal government released the supporting regulations on the Prohibition on the Purchase of Residential Property by Non-Canadians Act (Foreign Buyers Ban) which includes definitions, exceptions, and enforcement elements to help individuals understand and comply wit...

BANK OF CANADA ANNOUNCES ANOTHER RATE HIKE

Posted on Jan 25, 2023 in Real Estate News

The Bank of Canada has started the 2023 market off with a bang by announcing its eighth consecutive variable rate increase in ten months. The 25 basis point hike isn't exactly a surprise, but this decision means the central bank's trendsetting rate is now sitting at 4.5% as the Bank of Canada continues its fight to curb inflation. The announcement...

IS YOUR HOME AT RISK FOR RADON?

Posted on Jan 19, 2023 in Real Estate News

As we shared back in 2017, the University of Calgary's Cumming School of Medicine released a study about dangerous levels of radon gas in Calgary and Southern Alberta homes. The study proved that by Health Canada's standards, one in eight Calgary homes exceeds what is considered "acceptable" (200 Becquerel per cubic meter) radon levels.

In 2019, an...

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