Property News · November 20, 2017

Speculation rampant in Vancouver’s red-hot condominium market


The condominium market has turned red-hot in the Canadian city of Vancouver, with agents saying local and offshore buyers are snapping up units that are not yet completed, even as a foreign buyer tax has sent detached home sales plunging.
Condo prices have escalated so quickly that some owners are “flipping” – quickly reselling their units before construction is finished, a move that allows foreign buyers to capitalise on price gains without having to pay the province of…

Source : South China Morning Post
Read more…Speculation rampant in Vancouver’s red-hot condominium market

You may also like...