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New tax in Vancouver turns off overseas buyers

COOLING MEASURES: From June to the end of August, purchases by foreign buyers totalled 9.3 per cent in Vancouver, down from 13.2 per cent between June and the beginning of August.


THE share of homes purchased in British Columbia by foreign buyers decreased as at the end of August, data from the provincial government showed on Thursday, suggesting a new tax in the city of Vancouver was discouraging overseas buyers.

The share of property transfers in