Despite a rough year for Canada's economy with a drop in oil prices and a less-than-performing Canadian dollars, the country's real estate market has been awesome for the year 2015, The Georgia Straight Reports.
In a recent report by Real Estate Board of Greater Vancouver, sales in November were at 46.2 percent over the 10-year average for that month. With that said, it wouldn't be surprising to see the hot housing market taking spots in in Vancouver's list of significant real estate stories for 2015.
High housing prices
From November 2014 to November 2015, residential properties benchmark price rose 17.8 percent, according to REBGV. Among this year's eye-popping detached home sales was high-tech tycoon Don Mattrick's Point Grey mansion on Drummond Drive which sold for $51 million.
Brian Jackson's retirement
It came as a surprise when Vancouver's general manager of planning and development, Brian Jackson, made his announcement about leaving the agency by the end of the year. He has been on the job for less than three years and faced several issues that caused a friction between the city hall and some neighborhoods. The declaration was made after a group of retired planners and urban-planning experts wrote Mayor Greg Robertson and the city council condemning the proposal of a crystal-shaped glass tower to the east of Waterfront Station.
New bridge coming
The George Mess tunnel is planned to be replaced by a new tolled bridge, a 10-lane construction worth $3.5 billion. The project is expected to affect the real estate industry and the region as a whole. The business prospects of Ivanhoé Cambridge and the Tsawwassen First Nation's new shopping mall which is set to open in 2016 are expected to benefit greatly from this plan.
Telus Garden
Telus Garden. Telus' office tower, garnered the highest LEED score ever submitted to Canada Green Building Council. It is a tower like no other in the city with its 288 rooftop solar panels, continuous fresh air ventilation, and a district energy which is attached to the company's data system. It also has a vegetable garden that is probably water by the tower's rainwater catching system.
