B.C. is projected to outperform Canada with robust growth this year and ongoing modest growth thereafter, Finance Minister Michael de Jong said at the close of his annual meeting with the independent Economic Forecast Council.

Following B.C.’s highly successful issue of a Masala bond into the Indian offshore rupee market in September, B.C.’s Finance Minister Michael de Jong was invited to open trading at the London Stock Exchange where the bond was listed.

Foreign purchasers were involved in 1.8% of the 5,150 residential property transfers in Metro Vancouver in September, accounting for 1.8% of the total value of properties transferred in that period, according to the latest real estate transaction data released by the Province.  

Foreign investment accounted for nearly 6% of the approximately 48,000 residential real estate transactions in British Columbia between June 10 and Aug. 31, 2016, amounting to about 8.8% of the $31 billion in residential property that changed hands, according to the latest real estate transaction data released by the provincial government.

The Province of British Columbia has appointed Micheal Noseworthy as the new superintendent of Real Estate.

The Select Standing Committee on Finance and Government Services is inviting British Columbians to share their priorities for the next provincial budget with the release of the Budget 2017 Consultation Paper.

Statement from finance minister Michael de Jong:

“The changes B.C. made this summer are intended to address a number of the issues raised in today’s story on real estate by the Globe and Mail.

The Province of British Columbia has successfully issued an Indian Rupee denominated bond on the London Stock Exchange, making it the first-ever foreign government to issue a bond in the Indian offshore market and strengthening increasingly important trade and investment ties with India.