Me Rea. EstsTeE He
Globalization creates challenges

THE EVOLUTION of
Canada’s rea! estate ainrkets
into a more highly regulated
and globally based fom.
munity will create significant
challenges tuoi properly
owners in the 1990s, reports
Colum P. Bastable. cxecu-
tive vice—president. Royal
LePage Investment and ?ro-
fessional Services.

“These chajlenges mean
that investors must take a
proactive approach iv asset
Management.’ stresses
Bastable, a featured author
in the 1990 Royal : cPage
Market Survey. The survey,
teleased recently, is 4 -om-
prehensive analysis and

forecast of residential and
commercial real estate mar-
kets in Canada.

Challenges resulting from
regulatory changes will de-
mand particular attention,
notes Bastable. In many
provinces, for example, rent
controls and related
legislative amendments have
impacted expenses relating
to acquisitions, capital
repairs and the refinancing
of proposed rent increases.

Additionally, real estate
owners will be impacted by
changes to property assess-
ment and taxation policies.
In Toronto, for instance, a
proposed plan to reform the

1 ANTHONY SHAY

988-0999
986-9321

PRIME LOT

levying of property taxes
could increase taxes on
commercial and industrial
properties by as much as 25
per cent beginning in 1991.

Another ominous devel-
opment, says Basiable, is the
proposed implementation in
January, 1990 of the Greater
Toronto Commercial Con-
centration Tax. Under this
tax, a charge of $1 a sq. ft.
will be levied against all
commercial building which
have a gross area of more
than 200,000 sq. ft. The
charge will apply to the por-
tion of the building which
exceeds the designated gross
allowance.

75 - Friday, December 15, 1989 - North Shore News

MASTER

PAT
MUNROE §
986-9321“.

iHome 980-2367

ENJOY YOUR NEXT HOME!

FRI.CMR.RI(B.C.) @

eee : —
: SUPER STARTER — 2431 LLOYD A
3 Can you believe it? 2 bedroom basement home on a large level lot near highway in beautiful Pemberton

Heights for only $204,900.

WESTHILL, NORTH VAN

65x113

Quiet location, sunny, flat, ready to build,

Fully serviced. For more information

ANTHONY SHAY 988-0999, 986-9321

p-west’ca ast fealty.
as.

DON'T MISS THIS ONE — FIRST

please contact

é PENDENT MEMBEF

; ENJOY YOUR NEXT MOVE TO AN AREA GF ESTABLISHED PRESTIGE”
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986: 9321:

“sutton group: "west coast eat

mM welcomes you to life's better half. Priced at $429,000. 650 Kenwood Road een Properties).

986. 9321

AN INDEPENDENT: MEMBER "BROKER

MIKE KEONG

E BUYER OR

INVESTOR
Immac. kept, 3 bedrooms up ang 2 bedrooms nanny suite
down. Easy access to schools, transport and shopping. This
home sits on 3 50x132' tot with back lane access.

‘CITY / HARBOUR VIEW:

Make this your best investment before year end!! Total of 6
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i NEW LISTING
DIAMONF IN THE
ROUGH!!!

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you lose. Totally updated in every aspect —
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tot. BURNABY

986-9321

BRITISH PROPERTIES
1025 WILDWOOD LANE

Spectacular city and water views from
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roup - west Coast realty ..

DEPENDENT MEMBER BROKER:

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NEW LISTING $109,900

A GREAT FAMILY
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