Much has been said the last few weeks about Vancouver’s and Toronto’s house prices and the possible impact of the 15% tax levied on foreigners on affordable housing. This “BC brand fee” or “BC monetization fee” will indeed have a downward impact on demand, and thus, house prices albeit a modest one. However it is […]
We came across a listing recently and thought you would appreciate this little story. It is an influential example of the power of owning and holding real estate. In December 2003, Prestigious Properties acquired Spruce Manor, a 12 unit building in Edmonton for $492,500 ($41,000/unit) with $100,000 in cash, the smallest PrestProp building ever acquired. After modest renovations […]
