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More than a quarter (27%) of secondary property owners in the region said they are not collecting rental income at all, but 51% said they are using the unit solely as a rental property.
As well, 13% said they are using the property some of time and renting it out from time to time. Another 7% said their secondary properties are currently vacant.
The use of secondary properties for rental income accounts for a very substantial portion of Metro Vancouver’s rental housing supply.
Similar proportions of secondary properties in Greater Toronto are used to collect rental income, but this use is far lower in Greater Montreal, where the rate is 35%.
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by Carlito Pablo on February 3rd, 2021 at 10:50 AM 1 of 2 2 of 2
The most expensive real-estate deal in B.C. so far in 2021 involves a home perched over steep rocky terrain in West Vancouver.
Called the Sunset House, 3681 Sunset Lane sold at its listing price of $10.5 million.
The custom house’s focal element is a suspended infinity pool hovering 40 feet in the air.
B.C. Assessment placed the property’s 2021 value as of July 1, 2020 at $9,082,000.
Based on tracking by real-estate site Zealty.ca, 3681 Sunset Lane was sold previously on November 24, 2015 for $9.7 million.
Before that 2015 sale, there were three other but unsuccessful listings for the property for the price of $14,888,000.