Foreign Buyers Tax cools high-end market while prices surge elsewhere!


Tax has had little cooling effect
"

Even with the introduction of the Foreign Buyers Tax, a 'Sellers Market' persists in much of the Greater Vancouver market.

Though there has been a drop in sales, prices continue to rise in the entry-mid level markets. Demand is very strong here and much of the drop in sales can be attributed to a corresponding reduction/shortage in the number of listings.

The Foreign Buyers tax has had little cooling effect in the entry-mid end of the market where many local buyers face multiple offers and sale prices well over list!

The 15% Foreign Buyers tax has provided little intended relief in affordability for local buyers. Ironically, it has simply helped to improve affordability in the upper-end ($1 mil+) House and Luxury Condo markets where prices have dropped in step, helping off-shore buyers to absorb the new tax and then some!

See link below for your full report.

Metro Vancouvers next 'Hot Market' ? - email or call me for the full report…


"FULL MARKET UPDATE"- (REBGV)
Sales/ Listings Statistics and Graphs for all areas.

All information is approximate

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