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Vancouver tax set to scuttle over 400 deals: brokers

Provincial govt's move to cool hot housing market may also face legal challenges

RED HOT: The cost of a detached home in Canada's third-biggest city soared 38 per cent over 12 months to C$1.58 million in July.


BRITISH Columbia's decision to impose a 15 per cent tax on foreign buyers to cool Vancouver's scorching housing market is poised to derail more than 400 deals worth millions of dollars and may prompt calls for legal action.

At least 427 deals are likely to collapse due to