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British Columbia takes aim at housing speculation
Vancouver's foreign buyer tax will be raised to 20% from 15%, and expanded to include numerous other cities; speculation tax will target investors who park money in housing
Add BT as a preferred sourcePublished Wed, Feb 21, 2018 · 09:50 PM
Victoria, British Columbia
BRITISH Columbia moved on Tuesday to crack down on real estate speculators, expanding its foreign buyer tax and introducing a new speculation tax, as part of a wide-ranging strategy to cool housing prices in Canada's most expensive real estate market.
The left-leaning New Democratic (NDP) government, under pressure to address skyrocketing home prices and soaring rents, particularly in the Vancouver area, unveiled a 30-point housing plan as part of its first full budget.
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