We've got a streetfront retail space available in a highly desirable area in the heart of Chinatown which has seen an influx of new developments. Vancouver\'s Chinatown is universally appealing to tourists and locals alike with its rich culture, striking heritage buildings and world-renowned delicacies. This location is in walking distance to Gastown, Strathcona and the Downtown Core and is in close proximity to transit hubs.

The subject property boasts a unique layout with character storefront, exposed cement bricks, 16ft ceilings and polished concrete floors. This newly and extensively renovated unit is exposed to high vehicle and pedestrian traffic and has prominent signage opportunities which is perfect for a retailer, cafe, office or fitness studio! The unit also includes an enclosed board room, storage room, kitchenette and two individual washrooms. The space can also be accessed through a grade level loading door at the rear of the space.

Contact Amalia Liapis at 604-618-7000 or alternatively at amalia@wesellvancouver.ca for additional information.

Listing: https://spacelist.ca/p/bc/vancouver/161_e_pender_st/main_floor 

Our last blog was on the Real Estate Board of Greater Vancouver's residential statistics for Vancouver East. Today, we'll be looking at Vancouver West. As you can see, year over year, the three property types have seen a decrease in unit sales. However, if we were to compare on a monthly basis, from October 2016 to November 2016, there has been a decrease in sales for detached properties and condos of 11.54% and 1.66%, respectively, and an increase of 54.17% for townhomes.

As for the MLS HPI Benchmark Price, there has been an increase across the board when comparing between 2015 and 2016 in the months of October and November, which is a similar trend for Vancouver East. When comparing October 2016 figures with November 2016 figures, there are mixed results. There was a 1.36% decrease for detached properties, 0.91% increase for condominiums and a 3.07% decrease for townhomes.

For a look at the MLS HPI Benchmark Price over a 10-year span, click here. For all your real estate needs, contact the WeSellVancouver team at info@wesellvancouver.ca or alternatively at 604-801-6654.

Beautiful city and water views from this spacious 630SF one bed and one bath unit in the heart of Downtown New Westminster. This property is in a prime location just steps away from transit hubs, restaurants, shopping, gyms and more! Asking Price: $330,000.00. More details here.

Contact Amalia Liapis at 604-618-7000 or at amalia@wesellvancouver.ca for additional information on this property!

Not only do we provide residential and commercial real estate services, we also provide property management. WeRentVancouver is proud to offer our clients Property Management for their local properties. Whether you are an off-shore owner with a luxury fully furnished waterfront condo or a local owner with a single or multi-unit investment property, the team at WeRentVancouver can help.

With many years of experience, our property managers strive to make your investment as profitable as possible by offering a full range of property management services that meet your every need.

Contact us at 604-801-6654 or at info@werentvancouver.ca for more details on how you can just sit back and relax while we do the heavy lifting for you.

Want to be a part of the gentrification within Vancouver's evolving Chinatown? We only have 4 more brand new concrete and glass units available for sale. Contact us today for more details!

Residential sales for the month of March 2016 set an all-time record with a total of 12,560 unit sales which is a 38% increase in comparison to March 2015. In respect to last month's sales, the dollar volume totalled $9.69 Billion which is a 66.9% increase from last year. The average MLS® residential price increased 20.2% year-over-year to $771,620.

"Housing demand has never been stronger in the province," said Cameron Muir, BCREA Chief Economist. "Most large population centres of the province are now experiencing record levels of housing demand." "Strong employment growth, rising wages and a marked increase in net inter-provincial migration is fueling consumer confidence," added Muir.

Strong consumer demand has been a trend in 2016 with not enough homes on the market to supply that demand. Consequently, inventory of homes for sale is at decade-long lows in many regions within BC. Looking at year-to-date data, BC residential sales dollar volume totals $21.59 Billion which is a drastic jump of 70.1% in comparison to the same period last year. Unit sales increased by 39.2% to 28,028 units with an average MLS® residential price of $770,408 (22.2% increase).

If you're looking to buy or sell, we've got you covered. Contact Amalia Liapis at amalia@wesellvancouver.ca or alternatively, at 604-618-7000.

Source: British Columbia Real Estate Association (BCREA)

Want a way to measure home price trends in a chosen area? MLS has designed a tool that does just that. The MLS Home Price Index (HPI) allows users to measure home price trends in the Greater Vancouver region and other major markets in the country. The HPI follows a similar concept to the economic tool called the Consumer Price Index (CPI). With the HPI, it measures inflation or deflation as well as the change in the price of housing features. It "tracks price levels at a point in time relative to price levels in a base (reference) period for one- and two-storey single family homes, townhouse/row units and apartment units". 

The MLS HPI model is typically utilized to calculate Benchmark Prices. A "benchmark home" is one with similar attributes to those in the surrounding area in which it is located. Relative Benchmark Prices measure the percentage by which the Benchmark Price in a particular area and category is in relation to the overall market at any specific point in time.

The tools put out by MLS are there at your disposal and for your convenience. Check out their website here for all these handy tools. For all your real estate needs, contact Amalia Liapis at amalia@wesellvancouver.ca or alternatively, at 604-618-7000.

2015 was the strongest in the past few years with 102,517 MLS residential sales. Economists believe that this year will follow suit with strong consumer demand, however, with a slight 6.2% decline in sales bringing it under the 100k mark to a projected 96,100 units in 2016 and 98,000 units in 2017. A visual representation of BC's MLS Residential Sales are shown below starting from 2005 to 2017F. 

BC's relatively robust economy coupled with strong net interprovincial migration has subsequently led to the strong housing demand that we have been seeing. Residential sales over the next two years are projected to remain well above the ten-year average of 83,200 units. In addition to strong housing demand, the average MLS residential price in BC is forecasted at $677,200 (6.4% increase) in 2016 and a further 4.1% to $705,300 in 2017.

"The inventory of homes for sale is now at its lowest level in almost a decade," said Cameron Muir, BCREA Chief Economist. "Fewer homes for sale and strong consumer demand are expected to push home prices higher in most BC regions this year and in 2017." 

In line with the strong housing demand and low inventory levels, new home construction activity is expected to be on the rise to combat the issues of not having enough inventory to supply the high demand. This issue is particularly present on the South Coast. 

For all your real estate needs, contact Amalia Liapis at amalia@wesellvancouver.ca or alternatively at 604-618-7000.

Source: BCREA  Economics

Christmas may be over but the season for giving isn't and we're feeling generous this year. We're giving you the wonderful opportunity to invest in a revitalization movement within Chinatown. Don't just be a spectator in this movement, actively participate in it. There are opportunities to invest in both commercial and residential units here at Sequel 138!

We only have 5 commercial units available at unbeatable prices. Want retail space with a downtown feel without the hefty price tag to match? Look no further. Sequel 138 is centrally located in the epicentre of Chinatown, Gastown, Railtown and Downtown Vancouver, making it convenient to access. This is an opportunity you do not want to miss out on. What better way to end off the year than with an investment that will add great value to your portfolio! 

For all your real estate needs, contact Amalia Liapis at amalia@wesellvancouver.ca or alternatively at 604-618-7000.

Following up with our previous blog, "move up" homeowners react to asymmetrical price increases with the recent trend in renovating their home rather than moving into bigger, more expensive homes. Take a look below at a list of DIY home renovations that won't break the bank.

[1] Splash of Colour
Fresh paint can easily transform the ambience of a room. The amazing thing about paint is how it can personalize a home without a hefty price tag. It is nearly effortless, comes in an array of colours and shades and best of all, it's cheap! If you're someone who enjoys frequent changes, you can easily create a new look by painting your room again.

Having an accent wall can add character into a room by incorporating a striking design element in your space. You can create a stunning, unique space by painting your accent wall a different color or pattern. To create a bold statement, you can make the accent wall pop by choosing a bold, colorful shade that will accentuate the space without overpowering it. In contrast, you can opt for a sleeker look by designing an accent wall that is a gradual contrast rather than a bold one. Try a color that is a few shades deeper than the rest of your walls. 

If you were to choose one room in your home to renovate, it should be your kitchen! The kitchen is the single most important focal point for most prospective home buyers. Below you will find some money saving tips for kitchen makeovers!

 [2] Cabinetry DIY
Replacing cabinetry can be quite expensive so why not make use of your existing cabinetry? Often times a simple fix-me-up can do the trick. Try refacing or refinishing your cabinets! Refacing involves replacing the cabinet doors while keeping the actual cabinet boxes intact. Alternatively, if you have wood cabinets, you could refinish them by sanding down and repainting or staining them.

 [3] Changing up the Countertops
Granite countertops seem daunting due to its price tag but search around for deals at your local retailer or peruse through the clearance section to find quality materials at a fraction of the cost. For large kitchens, perhaps consider less costly alternatives such as Corian, quartz, wood grain or even eco-friendly materials such as bamboo or glass. 

 Next in line in terms of importance to current home owners and future home buyers is the bathroom. 

[4] Bathroom Beautification 
Ceramic tiles are becoming the flooring preference for today's home buyer. Depending on the size of your bathroom, you could find discounted tiles that you can install yourself. In addition to changing the flooring, you can upgrade your vanity and sink. Opt for a pedestal sink and/or freestanding storage cabinets for a cost-effective renovation. To make use of a small space, integrating continuing horizontal lines, a large frameless mirror and strategically placed lighting will create the illusion of having a larger space.

[5] Spruce Up Your Outdoor Space
Beautify the entranceway to your home by amping up your curb appeal. Place planters, shrubbery or flowers along your entrance way to liven up your entrance. Alternatively, you can line the walkway with perennial plants or outdoor lighting fixtures to light up the walkway. Another way to increase the value of your home is with a lawn transformation. Replace your existing lawn with sod (aka turf) to have a luscious green lawn that will be sure to stop traffic.

For all your real estate needs, contact us at info@wesellvancouver.ca or alternatively at 604-801-6654.

Don't let the stress of managing your rental property consume you! Let our property management division do all the heavy lifting for you while you reap the benefits. Whether you are an off-shore owner with a luxury fully furnished waterfront condo or a local owner with a single or multi-unit investment property, the team at WeRentVancouver can help. With many years of experience, our licensed property managers strive to make your investment as profitable as possible by offering a full range of property management services that meet your every need.

We understand your time is valuable and so our goal is to simply do the leg work for you, allowing you to make maximum profit from your investments, hassle-free. Let your property go to work for you, contact us today at 604-801-6654 or at info@werentvancouver.ca. For more information about how we can help you make the most of your rental property, check out our website at werentvancouver.ca - we look forward to hearing from you!

[1] A new mixed-use complex mingles modern office space with fashionable retail space by expanding the existing Pacific Center complex by 565,000ft². The redevelopment project also features 290,000ft² of AAA class office space and 45,000ft² of space for fresh and new retailers. This project, located at 725 Granville Street, will be home to Microsoft, Sony Pictures Imageworks and Miller Thomson LLP.

One of the headliner retail spaces in this redevelopment project is the construction of the 230,000ft² flagship Nordstrom Department Store. News regarding the development of Nordstrom in the pre-existing Sears space, however, has been released for quite some time. On the other hand, the major lease transactions for the two technology giants and the national law firm have been the most recent lease transaction. This exciting project will strengthen Pacific Center's position and reputation in the marketplace as Vancouver's paramount mixed-use complex. 

 [2] A recent lease renewal has been made for Allstream, located at 175 West Cordova Street. They are a Canadian-owned national communications provider for voice, data and Internet services. They have helped their clients transition from traditional telephone services to IP-based solution as a way to reduce costs, simplify IT operations and connect their businesses more effectively. 

 [3] Tetra Tech, a leading provider of consulting, engineering, and technical services worldwide, has recently gone into a lease agreement for 885 Dunsmuir Street. They offer clear solutions made possible with sound science, understanding, innovation and industry-leading approaches.

 [4] Odlum Brown Ltd., is a full-service investment management firm that prides itself on providing superior investment advice and service. The lease renewal is for PWC Place, located at 250 Howe Street. This office tower by Waterfront Properties was originally built a little over a decade ago in 2002 and features an impressive grand lobby which exhibits a sleek design that is manifested throughout the building. This building is named after PricewaterhouseCoopers, a prestigious, multinational accounting services firm.