After the government introduced a new 15% tax on homes purchased by foreign investors, we have been seeing a slow decline of foreign investors in the market.
The provincial government has released information on the number of foreign investors throughout the summer months. Before the tax, on June 10 – 29, they accounted for 5.1%. After the tax, on September 1 – 31, they accounted for 1.8%.
Will this tax push out foreign investors completely in Metro Vancouver?
Read more about this here.