Keynotes and Opinions on the new B.C. property tax for foreign buyers:
Â
I would like to take away a keynote regarding the new tax regulations on foreign buyers that will come in effect in just a few days (Aug 2, 2016). Let’s be honest: most of these foreign investors who have come down to B.C. to invest in, will not be as worried as the provincial government has expected. The provincial government might have added these regulations in order to give an opportunity for the locals to have an affordable housing for them in the near future; nevertheless the housing prices might not seem to be diminishing by these efforts in short run or perhaps I must say long run.Â
Â
Dan Morrison, president of the Greater Vancouver Real Estate Board knows it better: as he states that Canadians could [definitely will] be affected having nightmares by not being able to sell due to the short notice that was given.Â
Do these results show that there might ALSO be a sudden unexpected property tax regulation coming in effect for commercial property transactions for foreign investors?
