Yireh Canada
589 Mountainview Square V8C 2N2 Kitimat, BC, Canada

The competition is getting tough in several regions including Prince George, Fort St. John, Smithers, Terrace, Kitimat and Prince Rupert, said Freddy Marks, an Agassiz-based real estate agent who specializes in northern and Interior B.C. real estate. Great demand and small supply continue to create multiple offers on medium- to lower-priced housing, said Marks, who heads the 3A Group with Sutton Showplace Realty. But Marks cautioned the effect of the ongoing COVID-19 cris...is may yet to be realized, suggesting the last three months of the year will be telling. It is October’s unknowns that will decide the fate of so many, Marks said. Marks suggested that if the pandemic continues and government assistance falters, B.C. could see an insolvency crisis coming in both the residential and commercial markets, which could drive prices down. Commercial and residential landlords are a vital part of our economic fabric, and tough decisions derived from tough times may deliver a crippling blow to an entire market segment unless we can find a way to beat Covid-19, he said.

COMMERCIAL SPACE FOR LEASE in DOWNTOWN KITIMAT, BC! Target building construction date: TBA Yireh Centre is located within Kitimat’s established retail and amenities hub. City Centre Mall, Overwaitea Foods, Tamitik Jubilee Sports Complex and Kitimat General Hospital are all located steps away. The Centre will comprise of 10,000 sq ft of new retail and office use premises. Leasing opportunities exist for various retailers and businesses. Location - 5...89 Mountainview Square (along Wakashan Ave., Kitimat, B.C.) Site Area - 13,703 s.f. Improved Parking Credit - 19,650 s.f. (18,000 s.f. is paved) Retail Area - 2,944 s.f. Office Area - 7,034 s.f. Tenant Opportunities - Retail, Restaurant, Financial, Medical, Office. General Inquiries - [email protected] Leasing Inquiries - Marvin Leonardo 780-607-5477

Kitimat, the western export terminus for the LNG pipeline, saw 48 home sales through the first six months of 2020, down from 71 at the same time last year. Half of the 31 single-family homes sold this year transacted for less than $325,000 and on average, it took 89 days for a home to sell. At the end of June, there were 140 homes listed for sale in the Kitimat area.

This year’s Northern Capital and Planning Grant will provide $50 million directly to local governments to help address their infrastructure needs and as they prepare for major resource and economic development. For The District of Kitimat, that amount is just over $5.2 million.

As part of the Housing Needs Reports Program, data from the 31 approved locations will inform housing needs reports, which will be further used to identify community housing needs, such as affordable housing, rental housing, seniors’ housing, as well as housing for people at risk of homelessness, families and people with special needs. The reports will also help local governments support local economic growth by assessing future employment-housing needs.

And, at No. 1, not just in Canada, but the world, according to Demographia (I know you’ve been waiting for this) is Fort McMurray with a median multiple of 1.8. But, it’s bittersweet, say Cox and Pavelich. Fort McMurray is suffering a severe economic decline as a result of negative petroleum market dynamics.

The selling price of a Kitimat single family home dipped slightly this year to $356,853 compared to $358,9500 in 2019 when 12 single family homes were sold. https://www.terracestandard.com//home-prices-in-terrace-a/

Canada’s banking regulator has halted talks on changing its mortgage stress test as it eases capital requirements to free up $300 billion (US$215 billion) of lending capacity to help ensure financial stability during the coronavirus pandemic.

The spinoffs [from LNG] are huge, Wilson said. It has a massive trickle-down effect. http://www.westerninvestor.com//first-nations-share-in-the

The Bank of Canada’s decision to cut its benchmark interest rate Wednesday will further fuel the country’s housing markets, according to one expert.

The housing market in Kitimat is projected to become very tight thus Terrace will also benefit.

Assessed values and sales prices are not always relatable, especially with the assessed values lagging quite a bit. The new values are from July 2019 and will be effective until January 2021, which in that time period we will probably see a shift in values as workers and investors come to our community.

The Northwest Regional Airport was busier last year than it's ever been, according to year-end statistics released by the airport authority. Airport manager Carman Hendry says increased industrial activity in the region in 2019 -- especially the LNG Canada project at Kitimat -- resulted in rising numbers in each month, ending with just under 294-thousand passengers either departing from or arriving at the Terrace-Kitimat airport -- and that doesn't include charters.

The values of single-family properties in Terrace and Kitimat in northern B.C., where the massive LNG Canada project is being built, rose 20 and 41 per cent respectively.

Like others, he said the Kitimat residential upturn will become obvious over the next two years and will likely spread to neighbouring Terrace. It is still early days, Pender said.

This is the latest. Chevron’s Kitimat LNG (different from Shell’s LNG Canada) already spent more than $1 Billion just for the road along the mountain side. Once Kitimat LNG announce a positive FID then all bets are off. And also, Cedar LNG is just right around the corner.

The next boom town!

Kitimat no longer belongs to Canada. It’s now an international town. First, international hotels will come here, followed by international restaurants and then international banks. - by a top executive that’s actively involve in building LNG Canada A portfolio of six rental apartment buildings with a total of 66 units, all renovated, in Kitimat, B.C. has sold for $9.9 million, reports Re/Max Commercial Advantage. The sale price is equal to $150,000 per door.

KITIMAT: STRONG PRICE GROWTH NEXT YEAR For most markets this will mean price growth that’s in-line with inflation, though for some supply-constrained areas we are forecasting strong price growth, the BCREA said. This is particularly true in the parts of Northern BC most directly impacted by massive LNG Canada investment.

Real estate allows you to use the power of leverage. An investor only has to pay 20 percent of the purchase price to own 100 percent of the asset; you leverage a portion of your own money to own an asset worth much more, with the potential to increase in value over time.

People scouting for properties in Canada and U.K. as unease surrounding Hong Kong's political future grows amid China's increasing influence.

People desperate to find homes to buy or to rent in Kitimat ahead of the LNG industrial development are being targeted by online scam artists.