Sentences with phrase «foreign buyers in our area»

Not exact matches

Houses in this area go for an average price of $ 1 million to $ 4.5 million and over the years it's seen an influx of foreign buyers.

In February, the B.C. government unveiled additional measures in its budget to tackle the housing market, including raising its foreign buyers tax and expanding it to areas outside of Vancouver, while bringing in a new levy on speculatorIn February, the B.C. government unveiled additional measures in its budget to tackle the housing market, including raising its foreign buyers tax and expanding it to areas outside of Vancouver, while bringing in a new levy on speculatorin its budget to tackle the housing market, including raising its foreign buyers tax and expanding it to areas outside of Vancouver, while bringing in a new levy on speculatorin a new levy on speculators.

The group that loses out the most from the sale of residential real estate to foreign owners is everyone who works in the Vancouver area and earns Vancouver wages, but has to try to find housing in a market distorted by buyers who don't work in the Vancouver area and earn Vancouver wages.

Now the astute observer might point out that the bulk of the decline in sales was seen in areas popular with buyers from mainland China — which also happens to be the main region that most believe is the source of the majority of the foreign capital flowing into our real estate market.

Like Ontario, British Columbia introduced several measures including a tax on foreign buyers in the Vancouver area last August in an effort to stabilize the housing market.

When asked about foreign buyer activity in their area, 58 % of real estate agents believed that less than 10 % of luxury real estate purchases in the province were made by foreign buyers.

COQUITLAM, B.C. — Cardboard moving boxes are piled about the living room of an otherwise half - packed house nestled on a tree - lined residential street in a quiet Vancouver - area suburb — a scene frozen in time that the home's owners blame on British Columbia's controversial new tax on foreign buyers.

«We believe international interest is a significant factor driving price increases in the area, as foreign buyers view Vancouver as a «dream - city», as it is so beautiful.

Figures from the B.C. government show a drop in real estate transactions in the Vancouver area after the provincial government brought in a 15 per cent tax on foreign buyers last August.

A survey of Royal LePage real estate agents working in the Vancouver and Toronto areas shows that a majority of agents believe that the foreign buyer market accounts for less than 10 % of either city's housing markets.

The tax doesn't apply in the Victoria area and it saw more foreign buyers in October at 6.3 per cent of all purchases.

August 2, 2016: B.C.'s foreign buyer tax — Introduced by the B.C. government, this measure requires anyone buying a home in the Greater Vancouver area, who was not a Canadian citizen or permanent resident, to pay an additional 15 % tax in addition to all the existing costs associated with a real estate purchase.

Then, in April, the Ontario government introduced the Fair Housing Plan, a slate of measures to address affordability including a 15 per cent tax on foreign buyers in the GTA and surrounding area.

Since this government came in October we saw housing affordability issues have become much worse particularly in the biggest and main two areas in Canada (Metro Vancouver and Greater Toronto areas): 30 % to 40 % increase of home prices in a matter of weeks and huge shortage of homes and rentals as a result of foreign buyers... big joke..

«Investor sales are trending downward due to the continued rise in prices and fewer bargains available from distressed properties coming onto the market,» says NAR President Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Ark. «Furthermore, Realtors ® in areas popular to foreign buyers, such as South Florida and the West Coast, are reporting tempered demand from international clients — who typically pay in cash — due to the strengthening U.S. dollar compared to foreign currencies.»

Foreign home buyers have their eye on U.S. vacation areas — especially in southern Florida — and are helping to give a lift to some of these battered housing markets.

A majority of foreign buyers over the past year purchased a single - family home, and nearly half bought in a suburban area.

Meanwhile, most Chinese, Indian, and Mexican foreign buyers, who are typically resident foreign buyers, tend to purchase property in a central city / urban or suburban area.

Among all major foreign buyers, Mexican and Canadian buyers were the most likely to purchase property in a rural area.

An increasing share of foreign buyers [1] are purchasing property in a central city / suburban area, while fewer foreign buyers are purchasing property in a resort area, according to NAR's recently released 2017 Profile of International Activity in U.S. Residential Real Estate.

Among non-resident foreign buyers, only 13 percent purchased in a resort area compared to one percent among resident foreign buyers.

The declining percentage of foreign buyer purchases in resort areas can be traced to the decline in the share of Canadian and U.K. buyers who tend to purchase property for vacation use and / or to rent out.

The percentage of foreign buyers purchasing property in a resort area has declined, while only six percent of resident foreign buyers purchased in a resort area.

When the foreign buyers tax was implemented in BC and Toronto, I suggested that instead, incentives should be provided to property investors and builders to build in areas outside of Vancouver and Toronto.

Last year, Vancouver introduced a foreign buyer tax of 15 % on non-residents of Canada who purchased real estate in the area.

Global News has reported that some Toronto real estate sales professionals believe that «a foreign buyer tax in the Greater Toronto Area (GTA) would be «misguided» at a time of decaying affordability in the city».

Often referred to as a foreign home buyer tax, the NRST is a 15 % tax that applies to the purchase or acquisition of an interest in residential real property located in the Greater Golden Horseshoe (GGH) area by an individual, foreign corporation, or «taxable trustee».

The changes follow a Globe investigation in the Vancouver area that revealed a network of local and foreign buyers flipping homes for profit and avoiding taxes by classifying them as principal residences.

The new measures should help cool demand in metro Vancouver's expensive housing market that has already slowed significantly in the wake of a new provincial tax on foreign buyers in the region, said Vancouver - area realtor Adil Dinani.

In fact, our local area is well - known with foreign buyers: the National Association of Realtors» Profile of International Home Buyers has confirmed that last year, over 31 % of all international real estate sales in Florida happened here, in the Miami area and its surrounding communitieIn fact, our local area is well - known with foreign buyers: the National Association of Realtors» Profile of International Home Buyers has confirmed that last year, over 31 % of all international real estate sales in Florida happened here, in the Miami area and its surrounding communbuyers: the National Association of Realtors» Profile of International Home Buyers has confirmed that last year, over 31 % of all international real estate sales in Florida happened here, in the Miami area and its surrounding communBuyers has confirmed that last year, over 31 % of all international real estate sales in Florida happened here, in the Miami area and its surrounding communitiein Florida happened here, in the Miami area and its surrounding communitiein the Miami area and its surrounding communities.

Non-resident foreign buyers more likely to purchase property in a resort area: 16 percent of non-resident foreign buyers purchased a resort property, while only three percent of resident foreign buyers purchased in a resort area.

Nearly half of foreign buyers purchased a U.S. residential property located in a suburban area, according to NAR's recently released 2016 Profile of International Activity in U.S. Residential Real Estate.

Meanwhile, the fraction of foreign buyers who purchased in a resort area declined 14 percent from 22 percent in 2008.

According to a survey by the National Association of REALTORS ®, 2016 marked the fourth year in a row buyers from China ranked first among foreign nationals purchasing property in the U.S., and the Bay Area is a particularly attractive destination.

«The typical homeowner now stays in their house seven to 10 years,» says Rosanna Garcia, a Sacramento - area agent who specializes in investment properties for foreign buyers.

The availability of both resort and urban areas in Orlando appears to be accommodating foreign buyers» increasing tendency to locate in a city.

NEW TAX IN B.C.. FOR FOREIGN HOME BUYERS The B.C. government plans to tax foreigners who buy residential property in the Vancouver area — an announcement that follows months of pressure to addre.IN B.C.. FOR FOREIGN HOME BUYERS The B.C. government plans to tax foreigners who buy residential property in the Vancouver area — an announcement that follows months of pressure to addre.in the Vancouver area — an announcement that follows months of pressure to addre...

Conduct research to gauge international sales potential in your area NAR found that higher amounts of foreign buyers purchased residential property in Florida, California, Texas, Arizona and New York, in the 12 - month period ending March 2016.

«Kensington and Chelsea has long had a global appeal and in more recent years the area has attracted many ultra-wealthy foreign buyers.