Vancouver homes so pricey, government offering loans for down payments
Vancouver
HOME prices are so expensive in Canada's priciest property market that the government is stepping in with loans to help first-time buyers rustle together a down payment.
The province of British Columbia will start a programme on Jan 16 that will offer to match the nest egg amassed by buyers for their first house by up to C$37,500 (S$40,500) or 5 per cent of the purchase value, BC Premier Christy Clark said at a news conference. It's estimated to cost about C$703 million over the next three years and help about 42,000 households enter the market.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Homebuyers shun new real estate in Vancouver, hurting builders
US pending home sales jump in March to hit highest in the year
Blackstone strikes US$1.6 billion student housing deal with KKR
European real estate deals slump to lowest level in 13 years
Singapore Q1 industrial rents rise further as occupancy dips and prices fall: JTC
Condo resale volumes rebound in March; prices inch up 0.4%: SRX, 99.co