For the first time we have had two consecutive sales years in which the condo market activity within the Winnipeg Regional Real Estate Board (WRREB) market region exceeded the 2,000 unit threshold.  It should not be all that surprising that we are unlikely to see a  repeat performance in 2023, given the interest rate environment we are in. Consider the effect of the eight Bank of Canada interest rate increases in 2022, followed by another one this year, resulting in the overnight lending rate of 4.5%. Other factors have contributed to the sentiment that we are unlikely to repeat the performance of the past two years. 

There are four topics of interest in this edition, including updates on items in the prior edition

• CCI Manitoba's PDF-only newsletter
• Condo corporation governance
• Property taxes
• Mandatory director training

We are continuing to receive suggestions to improve the Provincial condo Act (The Act) and we thank you wholeheartedly for your efforts.

Now that we are well into January, Valentine’s Day is nearly upon us.  No doubt many loved ones will be receiving cards and flowers as part of that special occasion.  2022 was a ‘special occasion’ with respect to condo sales, not that I am suggesting you send a card for this!  In 2022, condo was the one property type which proved to be the most resilient during a very challenging year, and while not as spectacular as the record shattering 2021, was still worthy of recognition (if not a card).

This edition includes two topics of interest

• Benchmarking data
• Mandatory director education

Whether it improves the sustainability of your condo operations, reduces waste, increases energy efficiency, reduces water consumption or just beautifies the environment surrounding your property, we’d like to hear from you - just send us an email with a subject line of “CCI Green Condo Page”. We hope to hear from you soon. Please send any comments or suggestions to cci.mb.news@gmail.com.

First of all, it was absolutely wonderful (and exciting) to see everyone at the Annual General Meeting. Attendance was great and Fort Gibraltar was a wonderful location to hold our annual event. The staff did an amazing job and the food was superb. Connie Dame and her staff did an outstanding job in organizing.