Property News · September 30, 2016

Has Vancouver found the solution to a super-heated housing market?


In a radical move, the Canadian city now charges an extra 15% to any foreigner buying property there. The short-term impact on Vancouver house prices has been startling – but will it last?London mayor launches inquiry into foreign property ownershipThere is a city which is suffering a worse property bubble than Sydney, whose residents are more priced-out than Londoners, and where there is a greater divide between the housing haves and have-nots than even San Francisco.That city is Vancouver, and in response to these mounting challenges, the west-coast Canadian metropolis recently imposed an extraordinary new tax on foreign buyers – whose impact is now being watched closely by other cities grappling with bloated property markets. Continue reading…

Source : theguardian.com
Read more…Has Vancouver found the solution to a super-heated housing market?

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