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Re: Did The Vancouver Foreign Buyers Tax Work?

Posted: Thu Jun 27, 2019 8:21 am
by jimtan
Yes, the government intervention has been successful. Foreign buyers out...

"This West Vancouver mansion just sold for less than half its asking price. It’s not the only one"

https://globalnews.ca/news/5314158/home ... discounts/

Not surprising, entry level homes hold up well. One- bedroom condo down just 3.1%. Yah!!!

"Reverse Plankton Theory in Vancouver Housing

… When we look at Greater Vancouver condo prices by bedrooms it appears that once again the higher end of the market has taken the biggest blow. The average price per square foot for a 3 bedroom condo has tumbled 11.6% year-over-year in May. Contrast that to 10.9% for 2 bedroom condos and just 3.1% for one bedroom units."

https://stevesaretsky.com/reverse-plankton-theory/

Re: Did The Vancouver Foreign Buyers Tax Work?

Posted: Tue Sep 17, 2019 12:27 pm
by jimtan
Working so well that West Vancouver wants to pile in ...

"West Vancouver wants power to impose own vacancy tax

.... Mayor says city wants to target foreign owners sitting on houses like 'safety deposit boxes'

.... "This is a real problem," Booth said in a phone interview with CBC's The Early Edition, adding West Vancouver has 1,700 empty homes, which is equivalent to 10 per cent of its total housing stock."

https://www.cbc.ca/news/canada/british- ... -1.5285087