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Vancouver is set for a return in Chinese buyer demand – here’s why

Despite a 15% foreign buyer tax, a new policy may now allow Chinese to continue buying Vancouver homes.

Last August, British Columbia (BC) imposed a 15% property tax on foreign buyers1, which saw Chinese buyers interest in red-hot Vancouver dampened as Chinese real estate buyers switched attention from red-hot Vancouver to other Canadian cities, such as Toronto and Calgary, as well towards nearby Seattle in the US.

Now, however Chinese real estate investors may soon be allowed to continue their love affair with Vancouver, thanks to a new policy from the BC government that waives the tax for foreign buyers with a work permit2, thus opening up a huge opportunity for Chinese.

https://list.juwai.com/news/2017/03/vancouver-is-set-for-a-return-in-chinese-buyer-demand-here-s-why

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