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Vancouver’s hot property market gets tougher for wealthy Chinese as foreign buyer tax is raised to 20pc


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.
Starting Wednesday, foreigners will pay the province a 20 per cent tax on top of the listing value, up from 15 per cent…

Source : South China Morning Post
Read more…Vancouver’s hot property market gets tougher for wealthy Chinese as foreign buyer tax is raised to 20pc

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