Vancouver's 'nightmare' housing tax threatens foreign tech talent
This is on top of among the highest housing costs and lowest wages in North America's emerging technology hubs
Vancouver
VANCOUVER'S technology industry is in danger of becoming collateral damage in British Columbia's push to rein in spiralling home prices.
The surprise decision last week to impose a 15 per cent levy on overseas property investors may make it even harder for Vancouver to attract foreign talent and reach its goal of becoming a Canadian version of Silicon Valley. The city already has two major strikes against it: some of the highest housing costs and lowest wages among North America's emerging technology hubs.
"It's a complete shock, a nightmare," Eric K…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
S$16.5 million deal at The Ritz-Carlton Residences tops Q1 gainers; seller reaps S$4.9 million profit
Forrest Li’s wife buys Gallop Road bungalow next to the one he has redeveloped
Chinese restaurants spur Hong Kong’s retail property recovery
Asking rents down as demand slows and rental listings surge
Eurozone consumers increasingly struggle to pay for housing
Too many property agents? Cap commissions on home sales