British Columbia Luxury Home Sales Continue Upward Surge in 2011 Happy New Year and welcome to 2012! 2011 was yet another record-breaking year for BC's luxury housing market. According to MLS stats, over 700 $3 million+ homes were sold in 2011, smashing the record set last year of 375, and more than tripling the number achieved in 2009. Macdonald Realty manager, Matthew Lee, whose firm sold the most expensive house ($16.8 million) and most expensive condo ($10.1 million) in 2011, believes that international buyers are fuelling the luxury market. "Buyers from Mainland China continued to push prices upwards in 2011," Lee says, "but they're not the only ones buying. Locals and people from other parts of the world like ...

Below is a link to a great article on the recent boom in Vancouver laneway housing. Adding a laneway house will increase your property's assessed value thus increasing your property taxes and insurance. However when you  consider that you can build a 500 sq ft laneway home for $225,000-$250,000 (remember you already own the land) and rent it for $1,500 to $1,800 a month depending on the area, i've seen larger 700 sq ft homes on the West side rent for over $2,000 month. That’s a nice positive cash flow to help offset the high price of owning a detached property in Vancouver. http://www.bcbusinessonline.ca/profiles-and-spotlights/industries/homes-and-real-estate/living-small-laneway-houses