More foreigners snapping up property in Vancouver as tax shock subsides
Thu, Dec 01, 2016 - 5:50 AM
The library room of a mansion for sale listed at US$23.8m stands in West Vancouver, British Columbia, Canada. The provincial government expects foreign property purchases will settle at around 4-5 per cent of total sales over time.
FOREIGN purchases of Vancouver-area properties nudged off lows in October as international investors, initially unnerved by a tax on foreign home ownership aimed at cooling red-hot prices, returned to Canada's most expensive property market.