Foreign home buyers back in Vancouver

Vancouver

FOREIGN buyers have started inching back into the Vancouver housing market, more than a year after the province of British Columbia imposed a foreign buyer tax on real estate deals, according to government data released on Tuesday (Wednesday morning, Singapore time).

Foreign nationals were behind 5 per cent of home purchases in Metro Vancouver in September, up from about 0.9 per cent in August 2016, the month the 15 per cent levy was enacted in response to offshore money flowing into the west coast city's overheated housing market.