Sentences with phrase «foreign purchases of homes»

British Columbia's new tax on foreign purchases of homes in Vancouver is the first serious attempt by local authorities to confront a local problem.

Tal notes that Australia limits foreign purchases of homes to new housing stock while New Zealand has introduced a capital gains tax on properties sold within two years of purchase.

Not exact matches

Home resales were already on a downward track before the British Columbia government introduced a 15 per cent tax on home purchases by foreign nationals in Metro Vancouver, and area resales could see further significant weakness in the near term if there is a sharp downgrading of future price expectations and a drop in speculative activHome resales were already on a downward track before the British Columbia government introduced a 15 per cent tax on home purchases by foreign nationals in Metro Vancouver, and area resales could see further significant weakness in the near term if there is a sharp downgrading of future price expectations and a drop in speculative activhome purchases by foreign nationals in Metro Vancouver, and area resales could see further significant weakness in the near term if there is a sharp downgrading of future price expectations and a drop in speculative activity.

Concerns have been raised that foreign investment is a key factor behind skyrocketing home prices, but data to study such claims are lacking because foreign purchases of real estate have not been officially tracked.

A recent report by investment bank Crédit Suisse shows foreign buyers account for 25 % and 16 % of new home purchases in New South Wales and Victoria, respectively, reports Mingtiandi (28... Read more >

«Prestigious homes remain most popular with local buyers, with a small proportion of these purchases being attributable to foreign buyers.»

If a foreign buyer backs out of the sale, then they may be forced to back out of the purchase of their new home, which impacts yet another seller.

Home sales have already shown signs of a slowdown in Vancouver since the BC government announced the Foreign Investment Tax of 15 % for any homes purchased by non-residents or non-Canadians living in BC.

Of those foreign buyers, 40 % say they are making the purchase with the intention to live in the home and 25 % say they are buying the property to rent out.

You can be charged a foreign transaction fee even when you're making purchases from the comfort of your own home.

These provisions create (1) an non-immigrant Canadian retiree visa that would allow Canadians 55 years and older who have a rental agreement for lodging or own a US home in the US to stay as long as 240 days each year, and (2) an non-immigrant retiree visa for foreign nationals 55 years of age or older who purchase a principal residence (or a personal residence plus other residential properties) valued at $ 500,000 or more and who agree to stay in the US for a period of not less than 180 days per year.

Perhaps foreshadowing where a bulk of future home purchases from immigrants will come from, Hale said that in NAR's latest survey roughly over half of all foreign buyers purchased property in Florida (22 percent), California (15 percent), Texas (10 percent), Arizona or New York (each at 4 percent).

ORLANDO (November 8, 2012)-- Florida is not only the host state for this year's Realtors ® Conference & Expo; it's also the fastest growing destination of choice for international buyers, accounting for 26 percent of foreign purchases last year, according to the National Association of Realtors ® 2012 Profile of International Home Buying Activity.

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

Nationally, foreign buyer residential purchases accounted for five percent of existing - home sales.

The median purchase price among foreign buyers increased to $ 259,400, in line with the overall increase in the median price of Florida's existing home sales of $ 220,100.

All told, foreign buyers purchased 284,455 U.S. homes from 2016 to 2017, with a sizable share of transactions taking place in California, Florida and Texas.

Overall, 284,455 U.S. properties were bought by foreign buyers (up 32 percent from 2016), and purchases accounted for 10 percent of the dollar volume of existing - home sales (8 percent in 2016).

Foreign buyers purchase U.S. residential existing - home properties for a variety of reasons — for example, vacation, investment, asset diversification, and residential use.

The study shows that in 2015, Chinese buyers paid an average of $ 832,000 per home, doubling the average of other foreign purchases landing at $ 499,600.

«Orlando drew 12 percent of Florida's international homebuying activity in 2016, up from 8 percent in 2015 and making it the state's second most popular location for foreign nationals to purchase a home.»

According to the report, «A wave of investors from China and other foreign countries pouring capital into the local market drove median prices for all types of homes to $ 450,000 last year after British Columbia levied a 15 percent tax on foreign buyers purchasing homes in Vancouver.»

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».

That's because, as CIBC deputy chief economist Benjamin Tal points out, the rate of home price appreciation in these cities has been particularly robust for the priciest properties, which also happen to be the type of homes that foreign buyers are reportedly the most likely to purchase:

Many residents fretted about the influence of foreign dollars on the city's limited housing stock, but although good data was scarce, experts figured foreign buyers accounted for about 5 percent of home purchases.

That focus means they pay well above the average US home price: last year, Chinese buyers paid on average about $ 832,000 per home in the United States, compared with the average for all foreign purchases of $ 499,600.

Furthermore, 55 % of foreign buyers are cash buyers, due in large part to difficulties in financing real estate purchases in the U.S. Compare that to 92 % of Americans who finance their home via a mortgage.

A majority of foreign buyers purchased a detached single - family home and 63 percent used all - cash.

Foreign home buyers spent more on South Florida homes and purchased more local residential properties in 2017 than the year before, according to the new 2017 Profile of International Home Buyers of MIAMI Association of REALTORS ® (MIAMI) Members conducted by MIAMI and the National Association of Realtors (Nhome buyers spent more on South Florida homes and purchased more local residential properties in 2017 than the year before, according to the new 2017 Profile of International Home Buyers of MIAMI Association of REALTORS ® (MIAMI) Members conducted by MIAMI and the National Association of Realtors (NHome Buyers of MIAMI Association of REALTORS ® (MIAMI) Members conducted by MIAMI and the National Association of Realtors (NAR).