Homeowners have until March 2012 to apply for grants of up to $5,000 to make their homes more energy-efficient.

TORONTO, ONTARIO -- (Marketwire) -- 07/13/11 -- Canada's Minister of Natural Resources, the Honourable Joe Oliver, and Jacques Gourde, Member of Parliament for Lotbiniere-Chutes-de-la-Chaudiere, announced today that the Harper Government has renewed the popular ecoENERGY Retrofit - Homes program. This initiative is helping Canadians save on home improvements and energy costs while protecting the environment.

"Our Government is committed to easing the burden of high energy costs on Canadians and putting more money back in their pockets," said Minister Oliver. "With this program, Canadians can make their homes more energy-efficient and help reduce greenhouse gas emissions in Canada."

"Canadians can apply today," said MP Gourde, speaking in Quebec City. "Especially during summer and construction season, we want as many Canadians as possible to take advantage of this grant."

Until March 31, 2012, homeowners may be eligible to receive grants of up to $5,000 to make their homes more energy-efficient. The program could help up to 250,000 Canadian homeowners improve their homes' energy efficiency and generate as much as $4 billion in economic activity across Canada.

Prior to Budget 2011, the Government of Canada provided retrofit incentives to over half a million Canadians. Homeowners who participated in the program saved an average of 20 percent on their energy bills.

For more information, visit ecoaction.gc.ca/homes or call 1-800-O-Canada (800-622-6232). TTY: 1-800-926-9105. Grant amounts are listed in the "Grant Table for ecoENERGY Retrofit - Homes."

FOR BROADCAST USE:

The Government of Canada has renewed its popular ecoENERGY Retrofit - Homes program. The program could help up to 250,000 Canadian homeowners improve their energy efficiency and generate as much as $4 billion in economic activity across Canada. Homeowners have until March 2012 to apply for grants of up to $5,000 to make their homes more energy-efficient.

NRCan's news releases and backgrounders are available atwww.nrcan.gc.ca/media.

Contacts:
Media may contact:
Julie Di Mambro
Press Secretary
Office of the Minister
Natural Resources Canada, Ottawa
613-996-2007

Media Relations
Natural Resources Canada, Ottawa
613-992-4447

Hot market driven by Asian immigrants, not offshore investors

BY BRIAN MORTON, VANCOUVER SUNJULY 5, 2011

 

 

Metro Vancouver's hot real estate market is being largely driven by Chinese immigrants, not mainland Chinese investors, according to a survey released by a local real estate and marketing firm.

The report by MAC Marketing Solutions is the latest indication that a growing belief that offshore Asian investors are the main force behind the region's surge in sales is largely a misconception.

"Virtually all [the] sales to people of Asian descent are people integrated into our community," company president Cameron McNeill said in an interview Monday of their survey's findings. "The people we're selling to live here and have bank accounts here.

"There's a misconception that people think [mainland Chinese] are travelling here [to purchase] or are buying offsite. It's the opposite."

McNeill said that while the Vancouver market has seen a lot of investment by the Asian communities, there's confusion as to where they're from or why they're buying.

"These are buyers who are part of our community. Their children are in a school here. They work here and reside here."

McNeill said MAC accumulated raw samples of 500 buyer profiles, comprehensive data collected from each purchaser at the time contracts are written, and analyzed each for ethnicity and residency.

The profiles included 25 questions to learn more about the profile of the buyers and identify trends in contracts, mostly for presale highrise condominiums, but also lowrise condos, townhouses and detached single-family homes.

From Jan. 1 to June 1, MAC reported that of 500 buyers spread over 17 of their projects in Metro Vancouver, 330, or 66 per cent, are of Chinese descent.

The survey concluded that just three buyers, or 0.6 per cent, have their primary residences in China.

McNeill noted that foreign buyers were also from the Middle East, the U.S. and Europe.

The MAC survey follows other reports suggesting buyers are mainly Canadian citizens, immigrants or new residents in Canada -many with strong links to mainland China and many residing and working in China while their families establish roots in B.C.

Jennifer Podmore, real estate advisory leader for accounting giant Deloitte, recently told The Vancouver Sun that investors are not the main drivers of the market. "There are certainly a lot more Asian purchasers, but not Asian investors coming to purchase a condo and then leaving.

McNeill's and Podmore's comments follow a surge in investment, largely by ethnic Asian buyers with links to mainland China, that's branching out from Richmond and Vancouver's west side as buyers look to other communities.

Meanwhile, a recent Market-Share report by Colliers International concluded that Metro Vancouver real estate is now in the same category as New York, London and other major cities.

bmorton@vancouversun.com

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