This is one of the best articles I have seen on the Vancouver real estate market right now. This applies to residential real estate too.
There are many forces that are creating downward pressure on real estate prices:
-the Foreign Buyers tax
-the Speculation and Vacancy tax
-the Vancouver City Empty house tax
-Increased Property Transfer tax
-the new School tax on residential property over 3 million
-the Federal mortgage stress test
There are many forces that are creating downward pressure on real estate prices:
-the Foreign Buyers tax
-the Speculation and Vacancy tax
-the Vancouver City Empty house tax
-Increased Property Transfer tax
-the new School tax on residential property over 3 million
-the Federal mortgage stress test
There is a lot of pressure on prices but Vancouver still has global curb appeal all over the world because of our reputation for value, stability and Canada’s openness to immigrants. I would add we also have a great reputation for safety, fresh air and great drinking water.What about the beauty of Vancouver? Please tell me what makes Vancouver so beautiful?Yes in the short term I am not sure where our real estate market is going because of the above variables and the global financial markets but long term…………the Vancouver real estate market will always be a good investment.
https://vancouversun.com/business/commercial-real-estate/commercial-real-estate-vancouver-developing-a-bad-reputation-for-foreign-investment
https://vancouversun.com/business/commercial-real-estate/commercial-real-estate-vancouver-developing-a-bad-reputation-for-foreign-investment