China’s residential property prices have remained resilient despite government tightening measures because of a number of loopholes, according to a report from ratings agency Fitch Ratings.

The Chinese Residential Real Estate Q and A highlights the measures employed by the government, and looks at the reasons why they are failing. For example, the central bank cut lending limits for mortgages, but this has not had as much as an effect as it should have because many buyers are cash buyers. According to the report, Fitch estimates “that this proportion of cash payment is in the region of 30% to 50% of new-build purchasers.”

Another mortgage condition that has been introduced is the banning of financing on second and third properties, but, according to Fitch, “families may arrange their purchase to evade this restriction, through extended family members or artificial divorce.”

Developers have also been hit with curbing measures – banks are prevented from lending to developers for the purchase of land, so they can only borrow to construct. However, according to Fitch, “developers can still raise equity, domestic bonds or offshore funds. Discipline on the lender side may be more patchy for smaller, rural banks where local governments may be more influential.”

Tax increases on homes sold less than five years after purchase have also failed, because the returns are so good that a 5% tax is not enough of a deterrent. Fitch’s report says: “Tax rates in this bracket are not a major deterrent for those looking to long-term appreciations, or if short-term appreciation expectations are above 15%.”

Fitch Ratings says the overall effect of these measures has been to drive people away from major metropolitan areas towards China’s interior, and the demand has simply been exported. OPP recently reported on the rising home values in the interior of mainland China. During February, the price of a new home in the central city of Yueyang jumped by 12% year-on-year according to figures from the Chinese National Statistics Bureau.

The government is now monitoring home prices in 70 cities. The western city of Lanzhou rose 11% in February versus 6.8% in Beijing for instance, while Shanghai rose only 2.3% … a lower rate of increase than 80% of the cities tracked.

“Strict property measures in major cities have driven buyers to smaller cities,” says Liu Li-Gang, a Hong Kong-based economist at Australia & New Zealand Banking Group Ltd. “That raised inflation pressure in those cities.”

One measure that has been effective thus far is residency limits, for example to buy a property in Beijing it is necessary to show five years of tax returns. Fitch’s report says this is “extremely effective in the near-term, driving sales volumes down significantly.” However, the report questions how sustainable this policy will be long-term and how it will fit into other government policies including labour mobility.

Sales and prices increased last year, according to the latest figures. China Vanke Co, the largest real estate company in China, said its sales in 2010 rose 70.5% to 108.2 billion yuan. The country’s second largest developer, Poly Real Estate Group Co, revealed a 52.53% increase in sales in 2010, totalling 66.17 billion yuan. The third largest, Gemdale Corp, also posted an increase in sales of 34.6% to 28.34 billion.

Prices were up 7.7% year-on-year in November in China’s 70 cities, according to figures from the National Bureau of Statistics. The housing market in China looks set to grow, as the country continues with its economic expansion. The World Bank’s predictions, which were released this week, forecast 8.5% growth in China this year. The report said: “East Asia is well positioned to enjoy further years of strong – albeit more moderate growth over the period to 2012. China will remain the focal point of regional activity.”

Source: OPP

Most Vancouverites who recently purchased or plan to buy a condo say they’d prefer a house if they had more money.

That’s the finding of the TD Canada Trust Condo Poll, which found that 64 per cent of Vancouverites, versus 46 per cent of Canadians, cited affordability of condos is a big attraction.

That was also true for respondents nationally under 35, with 62 per cent liking the affordability of condos, versus 46 per cent of other age groups.

According to the poll, which was released Tuesday, Vancouverites were also more likely than those surveyed in other cities to consider buying a condo with a friend to make it more affordable.

However, condos are also more likely to be seen by Vancouver residents as a stepping stone, with many planning to move up to a house in the future.

According to the survey, half of Vancouver respondents expect to live in their condo for three years or less (18 per cent) or four to six years (32 per cent).

Nationally, 22 per cent of those under 35 said they don’t plan to spend more than three years in a condo, while 45 per cent plan to move after four to six years.

However, it was a different story with those over 50, who say condos fit into their plans to downsize their home. As well, 31 per cent of those over 50 nationally said they don’t plan to move again from their condo and 53 per cent plan to spend more than $10,000 on upgrades (compared to just 15 per cent under 35).

“Moving to a smaller, less expensive home can free up money to allow pre-retirees to make some upgrades and enjoy a bit more luxury in their space,” Barry Rathburn, TD Canada Trust’s manager, residential mortgages, said in a statement.

“It’s especially important for those who are selling their home to downsize as part of their retirement strategy to make a budget for any upgrades and stick to it.”

The poll found that 98 per cent of Vancouver residents named good building security as the most important feature to look for in a condominium.

As well, 96 per cent said low condo fees was the second most popular feature, with 84 per cent saying they would not pay more than $400 a month n condo fees.

Energy efficient buildings also ranked high.

The online survey of 806 people in Vancouver, Calgary, Toronto and Montreal was conducted from March 25 to April 11 by Environics Research Group.

Respondents had either bought a condo in the past 24 months, intend to buy a condo in the next 24 months, or considered a condo when shopping for a home.

Source: Brian Morton, Vancouver Sun

The Canadian Real Estate Association has been adjusting its forecast for 2011 as economic circumstances warrant, and on Monday took another crack at the numbers.

Its first prediction was made in February, 2010, when it said prices would fall 1.5 per cent as sales fell 7.1 per cent.

Monday’s numbers were rosier, as stronger than expected sales across the country and high prices in B.C. caused the trade association to amend its outlook to a 1.3 per cent decline in sales and a 4 per cent gain in prices.

Here’s how it got there:

Initial forecast for 2011, February 2010

Sales: -7.1 per cent

Prices: -1.5 per cent

“Interest rate increases will contribute to weaker national sales activity in 2011.”

June, 2010 forecast for 2011

Sales: -8.5 per cent

Prices: -2.2 per cent

“While sales activity is unfolding as expected in Ontario, the decline in affordability in British Columbia impacted sales in the province during the first quarter. Additionally, changes to mortgage regulations announced in February are expected to marginally impact activity.”

July 2010 forecast for 2011

Sales: -7.3 per cent

Prices: 0.9 per cent

“Weaker than anticipated sales activity during the crucial spring home buying season in Canada’s four most active provincial markets prompted the revision. The decline is consistent with the exhaustion of pent-up demand from deferred purchases during the economic recession, and sales having been pulled forward into early 2010 due to changes in mortgage regulations.”

November, 2010

Sales: -9 per cent

Prices: -0.8 per cent

“Sales activity in the third quarter of 2010 began on a weak footing, but gained traction as the quarter progressed. Improving momentum for home sales activity suggests the resale housing market is stabilizing, but weaker than expected third quarter activity has reduced CREA’s annual forecast.”

February, 2011 forecast for 2011

Sales: -1.6 per cent

Prices: 1.3 per cent

“The upward revision to CREA’s forecast for 2011 reflects recent improvements in the consensus economic outlook and a further expected improvement in consumer confidence.”

May 9 forecast for 2011

Sales: -1.3 per cent

Prices: 4 per cent

“Although sales activity in the first quarter of 2011 came in largely as expected, multimillion dollar property sales in Greater Vancouver have surged unexpectedly. These sales have upwardly skewed average sale prices for the province and nationally, prompting the average price forecast to be revised higher.”

Source: Steve Ladurantaye, Financial Post

Vancouver Sun April 30, 2011

4657 Victory Street, Burnaby

Type: 3-bedroom, 1-bathroom detached
Size: 1,021 sq. ft.
B.C. Assessment, 2011: $691,300
Listed for: $788,000
Sold for: $868,800
Sold on: March 8
Days on market: 6
Listing agent: Leslie Gray at Sutton Group – West Coast Realty
Buyers agent: Bonney Bao at Royal Pacific Realty (Kingsway)

The big sell: This 1935 bungalow has numerous pluses: the living space is on one level, the rooms are spacious and the property is in a central location with Metrotown, the SkyTrain, Crystal Mall and schools and parks within walking distance. Other attractions come in the form of the quiet neighbourhood, the treed outlook and the 60-by-106-foot south-facing flat lot that could provide future development possibilities. All this generated seven offers, with the winning bid coming in at more than $80,000 over the asking price. According to listing agent Leslie Gray, South Burnaby is fast becoming a serious contender for those buyers who have been priced out of nearby Richmond.

16316 92nd Avenue, Surrey

Type: 8-bedroom, 7-bathrooms, detached
Size: 5,403 sq. ft.
B.C. Assessment, 2011: $936,000
Listed for: $970,000
Sold for: $948,000
Sold on: March 16
Days on market: 69
Listing agent: Dennis Fung at Homelife Benchmark Realty
Buyers agent: Suki Bahi at Sutton Group – West Coast Realty

The big sell: Everything about this property is large, from the 12,414-square-foot lot to the twostorey family room. In fact, this home features plenty of room to fill any family’s requirements. Built in 2006 in Surrey’s Fleetwood/Tynehead neighbourhood, the house boasts eight bedrooms and six full bathrooms over three levels. The result? A flexible floor plan that includes a guest suite on the main floor, a gourmet kitchen with butler’s pantry and spice kitchen, a master suite with private deck that showcases the mountain and valley views, two additional spacious bedrooms with ensuites, and a large den. As well, the fully finished basement comprises a games room, hobby room, further bedrooms and a 23-by-18-foot recreation room. There is parking for six vehicles and the southern-exposed back yard has a deck.

#1004 -1616 Bayshore Drive, Vancouver

Type: 2-bedroom, 2-bathroom apartment
Size: 1,257 sq. ft.
B.C. Assessment, 2011: $930,000
Listed for: $999,900
Sold for: $990,000
Sold on: March 12
Days on market: 2
Listing agent: Holly Wood at RE/MAX Masters Realty
Buyers agent: Thomas Spencer at Royal Pacific Realty Corp.

The big sell: The story of the sale of this Coal Harbour condo would be a compelling tale for those who believe fate plays a hand in the direction our lives take. The buyers happened to walk past listing realtor Holly Wood’s agents’ open house and found themselves looking at exactly the type of property that they had been searching for. The Bayshore Gardens waterfront home has oak hardwood flooring, crown moulding and floor-to-ceiling windows framing the spectacular westerly views of the marina, Stanley Park and the seawall. The kitchen features a Sub-Zero fridge and wine bar, Bosch gas cooktop and dishwasher, and two eating areas. The master ensuite has a double sink with marble countertop, a soaker tub and separate shower with Kohler fixtures and heated floors. The building has 24-hour concierge, a gym, sauna, and meeting room.

1142 3rd Avenue, Fernie

Type: 5-bedroom, 3-bathroom detached
Size: 3,886 sq. ft.
B.C. Assessment, 2011: $644,000
Listed for: $544,500
Sold for: $518,000
Sold on: March 20
Days on market: 279
Listing agent: Candace Grey at Royal LePage East Kootenay Realty
Buyers agent: Marilyn Brock at Century 21 Maximum Realty

The big sell: Central to amenities and schools, this five-bedroom property is in the north end of downtown Fernie.
The home was custom built in 1997 and has more than 2,000 square feet on the main level and 1,800 square feet on the lower. The primary floor features a sunroom with beautiful mountain views, striking dark hardwood floors and trim, a family room off the kitchen area, solid oak cabinetry, three bedrooms and two bathrooms, and a rarity in most homes: an elevator that connects both levels. The finished basement -it could double as an in-law or guest suite -has a large recreation room, further bedrooms, a kitchen, abundant storage space and radiant heat. The exterior comprises a single attached garage and the property sits on a 60-by-120-foot lot.

For the full story, please click on Real estate sales in Burnaby, Surrey, Vancouver and Fernie.

Metro Vancouver home sales reached 3,225 in April, an 8.2-per-cent drop from April 2010 and a 21-per-cent decline from March 2011.

According to the Real Estate Board of Greater Vancouver, the numbers reflect a “solid” month of sales following the near-record pace in the two previous months.

“While it continues to be a seller’s market in Greater Vancouver, last month’s activity brought greater balance between supply and demand in the overall marketplace,” REBGV president Rosario Setticasi said in a statement. “The year-over-year decline in April sales can be attributed to a less active condominium market, as there were more detached and townhome sales this April compared to last year.”

In individual markets, the REBGV survey concluded that Richmond saw the sharpest benchmark price increase over the past year for single detached homes (18.5 per cent to $1.08 million), while Squamish saw the sharpest decline over the year (down 8.6 per cent to $447,000).

The numbers were the same over three years, with Richmond experiencing a 40.9-per-cent increase in prices during that period, while Squamish recorded a 24.5-per-cent decrease in prices over three years.

Vancouver West had the highest benchmark price in April ($1.97 million), while the average benchmark price for a detached home in Metro Vancouver stood at $879,000.

The REBGV survey also noted that new listings totalled 5,847 units in April, a 23.5-per-cent decline compared to April 2010 when 7,648 properties were listed for sale – a record for April. April’s listings were also 14 per cent lower than March 2011.

At 14,187, the total number of residential property listings increased 8.2 per cent in April compared to last month and 10 per cent less from April 2010.

“There’s considerable variation in activity within the communities in our region,” Setticasi added. “This is causing home price trends to differ depending on the area.”

The benchmark price for all residential properties in Metro Vancouver increased five per cent over the past year to $622,991 in April 2011 from $593,419 in April 2010.

Source: Brian Morton, Vancouver Sun

While plenty of individuals live from pay-cheque to pay-cheque, most consumers know they should be saving money and reducing debt. The recession has drummed that concept into everyone’s head as people have watched their neighbours and friends lose jobs and sometimes their home.

Many people say that money worries keep them awake at night, but that doesn’t necessarily translate to imminent bankruptcy. How do you know when you are truly teetering on the edge of a financial disaster versus simply needing to do a little belt-tightening?

Here are nine signs that indicate you are heading for trouble and may be unable to pay your mortgage in upcoming months:

1. Late Fees

If you missed a payment or let your bill go past due because you didn’t have the money to pay your mortgage or another bill on time, you need to reevaluate your budget. Not only does this indicate an imbalance between your income and expenditures, but it will also ruin your credit score, potentially causing your creditors to increase your interest rate.

2. You Can’t Pay All of Your Bills

Every month, you are forced to decide which bills to pay and which bills to ignore. A lot of people opt to pay their credit card bill to stop harassment from the credit card company and to make sure they have available credit. But it is far more important to pay the bills that protect your home first. Always pay your mortgage first so that you will have a place to live. Next, pay for your car so that you can get to work and keep your job.

3. Making Minimum Payments on Credit Cards

In your mind, paying the minimum due on each bill may mean you are keeping up with your financial commitments, but financial experts know that minimum-only payments are a key indicator of financial distress. While this may mean that you carry too much debt, this also means that all your income is barely covering your spending. Take a careful look at your mortgage payment, other debts and your income to get back on track. Paying only the minimum on credit cards will extend your debt for years and amass expensive interest payments.

4. No Emergency Savings

While amassing six to 12 months of funds to cover you expenses, as many financial planners now recommend, may be a monumental task, every homeowner should have at least one month’s worth of expenses in the bank. At the very least, you need to have enough money in a savings account or a money market fund to pay your mortgage for one month if your income drops or disappears. If you cannot save that much money you need to seriously evaluate your overall household budget.

5. You Can’t Afford Maintenance

Your home needs to be painted and your dishwasher broke two months ago. If you are ignoring basic maintenance because you cannot afford to buy paint or call a repairman, this is a significant indication that you are in financial trouble. Not only does this show that you don’t have any emergency savings or a home maintenance budget, but this will also reduce the value of your home.

6. Reduced Income

Money is already tight and now your work hours have been reduced or you have been laid off. If meeting your monthly budget depends on every dime you earn, then even a small reduction in income can be a disaster. Search for a new job or a second job and, at the same time, start slashing your budget as much as you can.

7. Using Credit or Cash Advances to Pay Bills

You are using your credit cards or, even worse, cash advances on credit cards to pay other bills such as a utility bill or to buy groceries or just to have cash in your pocket. This is a strong indication that your spending is outpacing your income and it is extremely expensive. You need to put yourself on a debt management program or perhaps meet with a credit counselor to straighten out your finances.

8. Using Your Retirement Fund

You have borrowed money from your retirement account for your mortgage payment or other debt. This could seriously jeopardize your future financial security.

9. You’re Maxed Out

One or more of your credit card balances has reached or, worse, gone over the limit. If you are transferring your balances to new accounts in order to avoid paying the debt, this is a sign of a financial imbalance. If you are applying for new credit cards because your other cards have reached their limit, you are in serious danger of a financial meltdown. While you may be making your mortgage payments just fine, if you cannot control your use of credit cards it can be an indication that housing payments are too high.

While these financial woes can mean that you cannot afford your home, they may also be a sign that your spending is out of control. For most people, the mortgage payment is the largest monthly bill, so they often assume that the size of their mortgage is the problem. If your housing payment fits into that budget but you are having difficulty making your payment, then the issue may be that you have taken on too much other debt. Whether the problem is your mortgage or your other debt, you need to find a way to reduce your spending and/or boost your income before the situation gets worse.

The Bottom Line

Handling financial problems is never easy, but the first step is always to know what you owe. Solutions can only become clear once you have every bill written down with the amount owed, the monthly payment and the interest rate you are being charged. Pencil and paper work just fine, or you can create a spreadsheet or invest in some personal finance software. The important thing is to know where you stand so you can create a plan that will get your money under control.

Source: Michele Lerner, Investopedia.com

You walk into the open house, take one look and say to yourself: This is it. It’s the house I have to live in. Where do I pay? A bidding war? I’m in.

Over my years of buying houses, I never bought one that did not have that frisson moment, that thrill of finding a place so suited to my wants. Indeed, I have in the past decided that I wanted to buy a house in what seems, in retrospect, to be nanoseconds. (By contrast, I’ve taken weeks to decide on the right pair of shoes.)

It is no way to make an “investment,” to be sure. But, as I’ve previously discussed in this space, buying a house is perhaps the most uninvestment-like of investments.

Just about anyone who’s purchased a property or thought about purchasing knows that it is much about gut-feel, in which the senses can conspire to trump sense.

Now, as the major real estate selling season gets under way, along comes a survey commissioned by BMO Bank of Montreal to give statistical weight to the notion that intuition carries a particularly heavy weight in the house-buying process.

The survey by Leger Marketing found that more than two-thirds of Canadians cited a “good feeling” toward the property as a reason to buy. Meantime, though, good sense is not thrown out of that gorgeous bay window and into those manicured flower beds. More than 90% of house-hunters value affordability and location over resale value.

So, the axiom that there are three important things in real estate – location, location and location – might reasonably be replaced by the Three Ps: Price, place and personality.

Nevertheless, that resale value is not a big concern to these surveyed house-hunters – people between 25 and 45 who plan to buy a home within two years – is a telling sign of the real estate times.

With some dips here and there, Canadian house prices have been rising strongly for more than a decade. Indeed, even the recession created just a downward blip in the chart of ever-growing values, with the average national price rising 8.9% last month from the previous March (but just 4.3% excluding Vancouver).

As a result, most of the house-hunters surveyed might never have been aware of a housing market that was not rising. I suspect many in this 25-to-45 demographic believe house prices basically keep going up forever, that though they downplay resale value in the survey, the expectation for solid gains is, well, a given. (Any significant drop in prices would surely shake that belief.)

In recent times, investors have been asked if they are stocks or bonds. If you’re a stock, you are prepared to take on more investment risk. If you’re a bond, you are not.

Perhaps, though, many people are probably houses when it comes to investing. A home is both partly a stock and a bond – and somehow neither.

It is a bond because over the long term it will likely produce modest returns through the enforced savings required by paying down the mortgage. It is a stock because the gains could be outsized if the investor were to buy and sell at propitious entry and exit points for market-timing gains.

And it is neither because it is an “investment” with many moving parts and frictional costs. You don’t live in a stock or a bond, but when the house leaks, it costs money and cuts into the investment. Meantime, the costs associated with buying and selling a property are becoming more daunting in many jurisdictions, with some observers reckoning that a house is often a mediocre investment at best.

But most young first-time buyers and mover-uppers are not fazed by such commentary. Home ownership is a cornerstone of our culture, with 70% of the population owning properties and many of the other 30% looking to join the majority.

And the real estate industry has become far more adept at marketing and selling than in the days decades ago when I was in the market. Today, houses are often professionally “staged” to produce that frisson moment. Prices are sometimes set artificially low to produce that exciting bidding war and that extra frisson of “winning.”

A house, it is said, is not a home. And a home is not strictly an investment. But does a stock have granite counters? Does a bond have stainless steel appliances?

Source: William Hanley, Financial Post

Just listed on AssignmentsCanada.ca is a condo assignment in the Trump International Hotel & Tower development. This downtown Toronto condo is situated in the pinnacle of luxury in the heart of Toronto’s Financial district. Trump International Hotel & Tower Toronto will soar 60 stories above Bay Street and the suites features stone flooring and wood-finished walls, marble flooring in the bathroom, and European design.

This hotel unit can be part of the Trump Toronto hotel rental program generating significant monthly cashflow. With assignment of this contract there are numerous savings and rebates available to the purchaser:

* Price below retail – $50,000 below developer’s price

* HST exemption – $96,000 savings

* Toronto Land Transfer Tax exemption – $15,000 savings

*GST Rebate – $15,700

*Total Savings: $176,700

There is a tremendous amount of equity given to the purchaser of this assignment.

Individuals and corporations can purchase a luxury hotel suite for personal or business use right in the heart of downtown Toronto. Owners can occupy their suite as much or as little as desired, pleasuring in complete access to every amenity. Upon departure, owners’ personal effects will be secured before their suite is made available to future hotel guests.

In addition, owners will receive revenue with each purchased room night while enjoying the tax benefits associated with ownership. They may sell or transfer ownership at any time.

Please follow this link, Trump Tower Toronto condo assignment for sale, to view the property’s details and to contact the seller directly.

It sometimes seems that marketing advice these days boils down to one word: Facebook. That makes consultant Douglas Karr’s advice on MarketingProfs.com stand out when he offers six reasons to approach Facebook marketing with caution:

Forget control, Facebook rules

Every Facebook page is assigned directly to a user, so when your company’s page is created it is assigned to an individual who becomes the administrator. If that employee changes jobs or leaves the company, a logistical problem can arise. Or if the page administrator decides to disable his personal Facebook page, your company page also hits the virtual dust. “Adding multiple administrators seems a logical recourse; but if Facebook views page activity as ‘suspicious,’ it may disable every account associated with it. Moreover, when an account is disabled, all of its pages, fans, content, applications, and ads are lost. And the road to getting the account re-enabled can lead to a bureaucratic black hole: After you submit a form requesting the account be re-enabled, there is no support, timeline, or guarantee that it will be,” Mr. Karr warns.

Facebook can change features at the drop of a hat

Facebook also has control over whether to change its layout, application programming interface, or set-up – and you must deal with the aftermath of the change. And, of course, if Facebook goes down, you’re down, at least for that part of your marketing.

Facebook allows any user to tag any business, place, or person in a status update. You have no opportunity to review and approve the tag before it goes public. So on Facebook you have no control over the public information that is released by third parties.

Facebook doesn’t make money for its people skills

Facebook requires its users, by the terms and conditions they sign, to be customer friendly and make it easy for users to contact them. But Mr. Karr notes Facebook doesn’t follow its own advice. There is no phone number to call or public support e-mail address. “Companies spend thousands of dollars on Facebook ads, and there is no representative to contact regarding their account,” he writes.

Facebook owns access to your content

Facebook doesn’t own your content. But you can spend a fortune putting content on Facebook and that content can then be used however Facebook staff wants, since its terms page advises: “You grant us a non-exclusive, transferable, sub-licensable, royalty-free, worldwide license to use any IP content that you post on or in connection with Facebook.” If the account is disabled, there is no way to access the information.

Your content isn’t protected or saved anywhere

If a glitch or other problem leads to loss of your content by Facebook, that content is deemed to be worth no more than $100 by the social media company’s policies.

The fine print can change

The fine print in Facebook’s policies, as you can see, is not always favourable to your interests. Beyond that, it can change at any time.

“Facebook has the authority to change its policies, terms of agreement, and codes of conduct for any reason, at any time; and as users, we must succumb to and accept the changes,” he stresses.

Source: Harvey Schachter, Globe & Mail

For the eighth consecutive year, readers of the influential US travel trade publication, Travel Weekly, have named Vancouver the best destination in Canada.

At their annual Readers’ Choice Awards held in New York City this week, Travel Weekly awarded Vancouver the top spot in the “Best in Destination: Canada” category. Those who vote in the awards are accredited travel agents who cast their ballots through an open online process. The awards are widely recognized in the industry and are presented annually to travel suppliers who excelled in product and service during the past year. Vancouver has been named best destination in Canada each of the eight years that the awards have been held.

Dayna Miller, Tourism Vancouver’s director of Sales, Travel Trade, was in New York to accept the award. “This award is significant because it’s voted on by travel agents – the front line travel influencers who work directly with potential visitors to Vancouver,” said Miller. “These people are some of our greatest allies in building visitation to Vancouver and it’s a great honour to know that they hold our destination in such high esteem.”

Tourism Vancouver works closely with the travel agent community, particularly in encouraging travel to the city from long-haul destinations. The organization’s sales teams regularly call on agents in the US, Europe and the Asia Pacific region to educate them on Vancouver products and packages that are then sold to consumers.

“It’s no surprise that Vancouver has been voted the best travel destination in Canada for the eighth year in a row,” said Vancouver Mayor Gregor Robertson. “Vancouver has made its mark on the world stage as a vibrant and multicultural city in a stunning setting. We have outstanding hospitality services including some of the best hotels, restaurants and tourist attractions in the country. Tourism has steadily grown in Vancouver because we are a great place to work, live and visit. We look forward to building upon our world-class reputation and welcoming even more visitors to our great city for years to come.”

Travel Weekly reaches some 190,000 readers in the travel industry each week – agents, suppliers and tour operators in North America. This award is the latest in a list of honours that Vancouver has received over the years, including being ranked “Best City in the Americas” in Condé Nast Traveler’s annual Readers’ Choice Awards again this year.

Tourism Vancouver’s focus is on building exceptional customer relationships with meeting planners, travel influencers, travel media and independent tourists. The organization’s brand essence is about “exceeding expectations”.

Media Contact at Tourism Vancouver:
Emily Armstrong
Manager, Travel Media Relations, North America
604.631.2873