British Columbia sets citizenship disclosure for home buyers
Calgary
BRITISH Columbia will require home buyers to disclose their citizenship to help the government monitor foreign ownership and address a housing boom that has made Vancouver one of the least affordable cities in the world.
Proposed changes to the property transfer tax will enable the government to collect information on property buyers, including their citizenship status and whether they hold the property as bare trustees. Bare trusts are typically used for real estate assets, and pass taxes and benefits directly to the beneficiary.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Blackstone strikes US$1.6 billion student housing deal with KKR
European real estate deals slump to lowest level in 13 years
Singapore Q1 industrial rents rise further as occupancy dips and prices fall: JTC
Condo resale volumes rebound in March; prices inch up 0.4%: SRX, 99.co
S$16.5 million deal at The Ritz-Carlton Residences tops Q1 gainers; seller reaps S$4.9 million profit
Lucrum Capital looks to sell Killiney hotel site for S$195 million