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Tax on foreigners leaves Vancouver real estate exposed

  • November 10, 2014

With a new tax on foreign homebuyers in Vancouver expected to slow purchase activity, there is a greater risk the city’s lofty real estate prices would be vulnerable to a potential jump in local unemployment, Fitch Ratings said on Monday. The new tax will likely be effective in tamping down buyer activity, Fitch analysts wrote, but with signs that the market may have begu...

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B.C. real estate reform: What you need to know

  • November 10, 2014

The British Columbia government is in the midst of a wide-ranging overhaul of how the housing market is regulated and taxed, amid growing concerns that foreign ownership, rampant speculation and unscrupulous real estate agents are fuelling an affordability crisis. On Aug. 2, a 15-per-cent tax took effect for home purchases in the Metro Vancouver area involving foreigners. Duri...

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