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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

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Houses in the Kitsilano neighbourhood in Vancouver, British Columbia. Foreign buyers, mainly from China, have been blamed for Vancouver's red-hot property market.

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

sentifi.com

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