Foreign Buyer Tax Underlines Pre-Existing Trends in Vancouver Housing Market

(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 10/06/16 -- Canada Mortgage and Housing Corporation (CMHC) released a (HMI) report on the impact of the BC Foreign Buyers Tax (FBT) on the Vancouver housing market.

On July 25, the BC Government announced the implementation of an additional property transfer tax of 15% on home sales to foreign buyers. While it is too early to determine the long term impacts of the Foreign Buyers Tax (FBT) on Vancouver's housing market, preliminary analysis of resale data suggests the market was slowing down prior to the tax's introduction.

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"Foreign buyer activity is one of many factors impacting the Vancouver housing market. Equally important are housing and land supply constraints as well as the economic and demographic fundamentals that drive housing demand. Sales and prices had already started to dip before the introduction of the Foreign Buyers Tax, so it basically underlined existing trends in the resale market."

Robyn Adamache, CMHC's Principal Market Analyst for Vancouver.

Additional data is available upon request.

(Ce document existe egalement en francais)



Contacts:
Jeanette Wilkinson
CMHC Public Affairs
604-737-4007

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Bereitgestellt von Benutzer: Marketwired
Datum: 06.10.2016 - 16:50 Uhr
Sprache: Deutsch
News-ID 499264
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