Facebook icon will open a new window
Twitter icon will open a new window
Instagram icon will open a new window
LinkedIn icon will open a new window
Search by Map
Are you ready for Buying?
Home Buyer's Guide and Tools
Out Of Country Purchasers
Century 21 Vancouver Careers
What Our Realtors Are Saying
Find Your Home
Vancouver's hot housing market just got tougher for wealthy foreigners
Michael La Prairie
on Wednesday, February 21st, 2018 at 1:05pm.
Vancouver, one of the hottest housing markets in North America, is getting a little tougher for wealthy Chinese buyers. British Columbia Finance Minister Carole James announced measures targeting foreign buyers and speculators in the first budget since her government was elected on a pledge to make housing more affordable for residents of Canada’s Pacific Coast province. Carole James Christopher Goodney/Bloomberg Starting Wednesday, foreigners will pay the province a 20 per cent tax on top of the listing value, up from 15 per cent now, and a levy on property speculators will be introduced later this year, according to budget documents released Tuesday. The government will also crack down on the condo pre-sale market and beneficial ownership to ensure that property flippers, offshore trusts and hidden investors are paying taxes on gains.
riginal news retrieved from
Leave a Comment
Format example: firstname.lastname@example.org
Format example: yourwebsitename.com
Sign-up Here for Real Estate Updates!