Comments on: Vancouver’s Foreign Buyer Tax Didn’t Stop Real Estate Sales, China Did

By: newstreet

newstreet — Mon, 17 Dec 2018 22:11:09 +0000

It may seem that Foreign Buyers may have a contribution in real estate sale in Vancouver but, they are small part of the whole sales and I don’t think we can say it’s Foreign buyers who stop the real estate sale. May be its because the taxes are higher now and the price of the property is also raised in last few years which can be the reason for decrease in sales.

By: www.gaoodgle.com

www.gaoodgle.com — Fri, 25 Aug 2017 13:57:49 +0000

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By: City Wide Mortgage Services | Vancouver’s Foreign Buyer Tax Didn’t Stop Real Estate Sales, China Did from @ Better Dwelling

Mon, 10 Apr 2017 20:28:57 +0000

[…] April 2, 2017 […]

By: Foreign Investor Tax is a Fairness Tax | Condos.ca Blog

Foreign Investor Tax is a Fairness Tax | Condos.ca Blog — Fri, 07 Apr 2017 19:31:16 +0000

[…] foreign investors, but big-money speculators (and money launderers) will continue to buy in Canada, just as they did in Vancouver. Even now, Vancouver developers continue to cater to high-finance investors. Implementing a foreign […]

By: Jim

Jim — Tue, 04 Apr 2017 11:58:51 +0000

Thought provoking post. The Chinese capital controls have been around in some form for years. It’s just that now there is a lot of press about new and more rigorous enforcement.
Ask your self why would capital controls be necessary to staunch capital flight?
It’s because the elite in China, who are an order of magnitude wealthier and more nefarious than we can imagine, view China as a bad bet.
Until that perception reverses, money will flow into China to buy cheap goods, and flow right back out to perceived safe havens. As always real estate is but a symptom of the larger economy. But the economy is vastly more global and more complex than historically- which is why Canadians continue to be surprised by girations in the market.

By: Paul

Paul — Mon, 03 Apr 2017 16:14:00 +0000

How is the time of “Sale” to foreign nationals defined? Is this defined as the closing date/possession date when funds are transacted, as opposed to the contract’s subject removal date? If so, this graph could correlate with the effects of a foreign buyer tax because of a ~2-4 month lag time between subject removal and the contract closing.

By: Tim

Tim — Mon, 03 Apr 2017 03:36:05 +0000

Chinese have been buying all over Canada is weird places like Windsor. So you might want to rethink your logic. Check around. They are buying odd locations.

By: Jeff

Jeff — Sun, 02 Apr 2017 17:32:28 +0000

Actually, the FBT resulted in an immediate 30% decrease in sales in the GVA from the previous month when it was not implemented. I think the more accurate headline was “Foreign buyers tax didn’t cause the market to increase from August-December 2016, China did”. Sales surely would have picked up steam as Chinese were rushing to get their money out of China before the new year, and as the deadline approached it mattered not about the extra 15% necessarily. Their window was closing. I saw a news story that the owner of a Chinese real estate website stated that property searches for Vancouver took a tumble immediately after the tax was implemented, with significant increases to searches for Seattle and Toronto. The FBT had a definite effect on the real estate market in Vancouver, and I think it has even contributed to the Toronto market.

By: Keith

Keith — Sun, 02 Apr 2017 15:23:27 +0000

Ontario Liberal Party will implement a foreign buyer tax to claim they stopped the buying in Toronto too, that’s guaranteed.

Just like hydro rebates are them saving us from electricity costs, and HST rebates was them saving us from high taxes. They create local problems, pretend they have nothing to do with it, then solve them as they balance out.

By: Dex

Dex — Sun, 02 Apr 2017 15:20:51 +0000

China is seeing money come back into the country, not leave now. People buying into the frenzy in Toronto aren’t smart enough to wait for facts to catch up though. They’ll believe they need to buy faster, and pay to prevent the Chinese boogey man until the government saves them.