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thommyjo said:
We need to aggressively tax secondary homes, plus remove the capital gains exemption for primary residences.
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The capital gains exemption on principal residences can be a stabilizing factor in home prices. If someone buys at 400k, sells at 410k and then loses 50k of that amount to taxes, the financially prudent measure would be to increase the price to 460k.

Agreed on secondary homes though. Higher property taxes for part-time residents makes sense.
 
policyenthusiast said:
The capital gains exemption on principal residences can be a stabilizing factor in home prices. If someone buys at 400k, sells at 410k and then loses 50k of that amount to taxes, the financially prudent measure would be to increase the price to 460k.

Agreed on secondary homes though. Higher property taxes for part-time residents makes sense.
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There can be a whack of tax on selling a secondary property, even more so when it is a rental property that has been depreciated, and that has been the case for decades.

I'm not sure if all the various restrictions on foreign ownership and vacant properties has really helped lower prices in those parts of the country that have them, they generally remain far more expensive than here.

I feel some well of people just regard them as a nuisance, they can also be hard to police and enforce compliance. We also have had higher taxes for property flippers in Canada several years now.
 
David A said:
There can be a whack of tax on selling a secondary property, even more so when it is a rental property that has been depreciated, and that has been the case for decades.

I'm not sure if all the various restrictions on foreign ownership and vacant properties has really helped lower prices in those parts of the country that have them, they generally remain far more expensive than here.

I feel some well of people just regard them as a nuisance, they can also be hard to police and enforce compliance. We also have had higher taxes for property flippers in Canada several years now.
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Those that "flip" properties have always paid more tax than those who invest in properties. Investment properties will be taxed based on the increase in value being treated as capital gains. Properties that have either not been held long enough to be considered investment will be taxed based on the increase in value being treated as income (either corporate or personal). In both cases, any depreciation that has been claimed will be have been used to lower the acquisition or book cost and that reduction therefor be increase the taxable amount on sale.

I don't think the various restrictions on foreign ownership have reduced demand substantially although it has perhaps kept some syndicators from securing enough investors. Those that can actually afford to buy here with cash will still do so as long as Canada and the Canadian dollar are considered a safe haven for that capital. There will always be legally defensible work-arounds for initial acquisitions and the taxes payable on an ongoing basis are insulting but affordable. The real restrictions are probably imposed on Canadian purchasers for whom the vacancy taxes can be a deterrent on purchasing or holding vacant properties as vacation or second homes (those being purchased or held for investment/income purposes have no real negative impact other than the sometimes confusing reporting criteria to three levels of government).
 
The tax rules on flipping were before somewhat grey. So I suspect a lot of people reported capital gains taxed more favourably rather than as business income in the past. I suspect some even claimed multiple principal residence exemptions in the past. The rules have been clarified and more more specific/restrictive now.

There is some intersection between places where people purchase vacation properties and housing is very expensive and limited for locals (ex. Whistler BC), but I suspect this situation does not apply to many places where people own vacation properties in Canada.

Also, the vacant property rules can still be catch me if you can. Who is going to monitor how many days a property is vacant? Is some civil servant going to knock on the door daily?
 
1749495068858

 
From Better Dwelling:

Canadian Real Estate Development Plans Fell Sharply​

Canadian building intentions hit a roadblock last month. The total value of building permits fell to just $11.7 billion in April, down 14% from last year. The real (inflation-adjusted) value is 16.4% lower, down to the weakest level in nearly a year. It marked the third-largest annual drop for any month since 2020.

Here are Edmonton's stats.

That's a 40% increase here, compared to a 14% drop nationally. Goes to show that Toronto/Vancouver's loss is our gain.
 
Gronk! said:
View attachment 658343
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What a bizarre thing to put on a poster. For the general public, or even most building tenants, most won't have a clue what it pertains to, or why it matters to them. Even just a couple of words would help spur people to then go QR coding.

Was that plunked down in what was a Triovest-managed property?

(and yes I know people on both sides of that acquisition)
 
Offworld said:
What a bizarre thing to put on a poster. For the general public, or even most building tenants, most won't have a clue what it pertains to, or why it matters to them. Even just a couple of words would help spur people to then go QR coding.

Was that plunked down in what was a Triovest-managed property?

(and yes I know people on both sides of that acquisition)
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Telus House in ATB Place, near the south entrance.
 
New Guaranteed Timelines Program accelerates development approvals
June 18, 2025

The City of Edmonton launched its Guaranteed Timelines program today. The program provides qualifying industrial developments with a more streamlined and predictable permitting process to help businesses start and grow faster than ever before. It is the next step in the work the City continues to do to make it faster and easier to develop and do business in Edmonton.

“The Guaranteed Timelines program gives our development community the predictability they need to confidently move projects forward,” said Travis Pawlyk, Branch Manager, Development Services. “Whether it’s a development permit or a partial building permit, we’re committing to clear timelines and better service.”

To create a more business-friendly environment, the City partners applicants with its Client Liaison Unit (CLU). This partnership supports the submission of a complete application and guarantees that a development permit and partial building permit (for footing and foundation or excavation) will be issued within 40 calendar days. The program is available to eligible new industrial developments on fully serviced land that meet all zoning and design criteria.

Key features of the Guaranteed Timelines program:
  • Guaranteed processing timelines of 40 calendar days for development and partial building permits on qualified projects.
  • A streamlined review process for quicker turnaround times.
  • Access to a dedicated CLU to support applicants through the process.
“This program is one of many steps we’ve taken to make Edmonton more investment-ready,” said Alisa Laliberte, Branch Manager, Economy. “By reducing approval times and improving certainty, we’re helping position Edmonton as a competitive, attractive destination for industrial investment and job creation.”

“Timely approvals are critical to the success of industrial development projects,” said Robynn Holstein, Executive Director, NAIOP Edmonton. “The Guaranteed Timelines program is a strong step forward in creating the kind of efficient and predictable processes that industry has long been asking for. We applaud the City’s leadership and collaboration in making this a reality.”

The City’s dedication to streamlining processes and reducing delays is already having a significant positive impact. These results demonstrate the tangible benefits of our continuous efforts to improve services:
  • Since 2019, red tape reductions and service improvements have saved planning and development customers an estimated 167,000 days and $9.2 million annually.
  • Edmonton's Permit and Licence Improvement Initiative was the 2022 winner of the Government of Alberta's Municipal Excellence Awards in the Red Tape Reduction category.
For more information:
edmonton.ca/GuaranteedIndustrialTimelines

Media contact:
Nicole Pearson
Senior Marketing Advisor
Urban Planning & Economy
780-217-8162
 
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