Real Estate News

TORONTO — Oxford Properties Group says it's acquired the 330-room Rimrock Resort Hotel in Banff National Park. The real estate firm says hospitality group Accor has signed with Oxford to operate the hotel, effective immediately.

VANCOUVER — A hearing to determine the fate of a controversial condo project proposed for Vancouver's Chinatown has ended without a vote after hearing from about 100 speakers.

TORONTO — The Ontario Teachers' Pension Plan says it's switching up how it handles real estate investments while announcing that the head of its Cadillac Fairview subsidiary is retiring.

TORONTO — The Bank of Canada hiked its key interest rate Wednesday by a quarter percentage point, bringing the rate to 4.75 per cent — the highest it's been since April 2001.

MONTREAL — The Quebec Professional Association of Real Estate Brokers says Montreal home sales were down in May from last year but showed signs of picking up from recent lows.

TORONTO — The slowdown in Toronto's housing market continued to slip away last month as home sales came in higher than they were a year ago and prices edged closer to pandemic highs.

VANCOUVER — The Real Estate Board of Greater Vancouver says May home sales rose 15.7 per cent from a year earlier. The B.C.

A new report released by Re/Max Canada predicts some Canadian cities could see an upswing in demand for commercial real estate in the next six months.

CALGARY — The Calgary Real Estate Board says the market hit a new May record for sales as the number of properties that changed hands reached 3,120 last month.

VANCOUVER — It will be at least two more weeks before any decision can be made on a condo development in the heart of Vancouver's Chinatown neighbourhood.