Sentences with phrase «on foreign buyers»

Those changes included a 15 % tax on foreign buyers as well as new rules around vacant properties.

(16) Rules on foreign buyers are determined by each state.

Despite the focus on foreign buyers demand for listed houses, their effect on the inventory of current houses for sale could be just as important.

As a result, the impact of a tax on foreign buyers, one of the proposals currently being considered, would be minimal.

The Real Estate Board of Greater Vancouver released the data a month after the British Columbia government implemented a 15 - per - cent tax on foreign buyers in Metro Vancouver in an effort to chill one of the hottest markets in North America.

Second is Zurich, Switzerland, up 8.3 % annually, with restrictions on foreign buyers in propping up rental demand, and third is Toronto, Canada, rising 4.5 % year - on - year.

A potential ban on foreign buyers is looming in New Zealand, but Chinese buyers could be snapping up Kiwi homes... Seguir leyendo >

He added that the province's move to control the city's overheated housing market by imposing a 15 per cent tax on foreign buyers of homes in Metro Vancouver as of Aug. 2 could reduce its bubble risk rating.

In Toronto, information on foreign buyers is more scarce, although a report from Canada Mortgage and Housing Corporation in April pegged the rate of foreign ownership in the city's condo market at 3.3 per cent.

«We're not saying that an incremental property transfer tax levied on foreign buyers is the silver bullet,» Mr. Lovely said.

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.

VANCOUVER — Home sales in the Vancouver area tumbled 26 per cent in August compared to the same month last year, as observers say a new tax on foreign buyers accelerated a cooling trend in the market.

The Singapore government this month imposed a higher stamp duty on foreign buyers, a new levy on sellers of industrial property and a limit on loan sizes.

Australia: Australia, like Canada, is experiencing an affordability crisis and part of the blame is being placed on foreign buyers.

But with Vancouver's housing market already slowing after the provincial government imposed a 15 per cent tax on foreign buyers there, the latest federal measures add another weight.

According to Juwai Data, Chinese searches for houses worth more than $ 1 million plunged 55 percent in July 2016 because of «very dramatic and abundant» coverage on this foreign buyer tax.

Prices in Canada's most expensive city for existing homes appear to have rebounded from the impact of a tax on foreign buyers as Vancouver realtors reported Tuesday a huge swing in demand for condominiums and townhomes in April....

The MLS home price composite benchmark price for Metro Vancouver was $ 906,700, 14 per cent higher than what it was a year ago, but down 2.8 per cent from six months ago, after the tax on foreign buyers took effect.

Gordon said his report blames Vancouver's housing crisis on foreign buyers, particularly from China, because «this is where the evidence points, not because of some anti-Chinese animus.»

Heather Franklin, a certified financial planner in Toronto, also notes that since a lot of millennials aren't in the market for real estate, they really don't have an opinion on the foreign buyers tax at all.

When Vancouver slammed the door on foreign buyers last year there was a great deal of concern that they would simply shift their attention east to another overheated market: Toronto.

Overheated housing markets with rampant property speculation and skyrocketing land values have resulted in restrictions on foreign buyers by two provincial governments as stories of residents and workers being pushed out of their communities abound.

Bank of America Corp. cut growth forecasts this quarter and next on the view Morneau's measures — which apply a more strict standard to borrowers and close a loophole on foreign buyers — will hurt sales.

Please refer to the Real Estate Tax policy on foreign buyers for ON.

Then last year, Vancouver took the surprising step of imposing a 15 percent surcharge on foreign buyers of Vancouver properties, where home prices were almost double Canada's national average.

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.»

The government's most anticipated measure involves cracking down on foreign buyers who used loopholes to avoid paying taxes on real estate speculation.

Wealthy Chinese were blamed for pushing up property prices in the former British territory, where they accounted for 43 percent of new luxury home sales in the third quarter of 2012, before a tax hike on foreign buyers was announced.

That's partly because without solid data on foreign buyers, it's tough to gauge how much they might be driving up California prices.

A potential ban on foreign buyers is looming in New Zealand, but Chinese buyers could be snapping up Kiwi homes... Continuar a Ler >

Provincial restrictions on foreign buyers, higher mortgage rates and tighter mortgage rules have combined to deflate the Toronto market.

In Toronto, information on foreign buyers is more scarce, although a report from Canada Mortgage and Housing Corporation in April pegged the rate of foreign ownership in the city's condo market at 3.3 per cent.

VANCOUVER — An Angus Reid Institute online poll has found that most respondents support a tax on foreign buyers of Metro Vancouver homes but at the same time doubt how effective the move will be at cooling the region's red - hot real estate market.

A new property transfer tax on foreign buyers in Greater Vancouver may have slowed home sales activity, but prices continued to skyrocket 30.6 per cent in the third quarter in one «final hurrah,» a new survey released Thursday said.

As for the 15 % property transfer tax on foreign buyers, considered the primary cause of the drop - off in the Vancouver real estate market over the past six months, Richmond said, «we haven't seen any decrease at all.»

He expects the assistance for first - time buyers to soften the Metro Vancouver market's landing from sales and price declines triggered by Victoria's 15 % tax on foreign buyers in August and tighter federal mortgage rules introduced in October.

The focus has been on high - priced property of particular interest to foreign buyers: Hong Kong and Singapore have new stamp taxes on foreign buyers.

«What if there was a tax on foreign buyers in Whistler where is exclusively a tourist economy?»

Nervous lenders are turning the screws on apartment buyers amid growing concerns about over-supply, falling prices, restrictions on foreign buyers and potential risk from combustible cladding widely used on high rise apartment exteriors.

Ontario's measures, which were retroactive to April 21, include a 15 per cent tax on foreign buyers in the Greater Golden Horseshoe region, expanded rent controls and legislation allowing Toronto and other cities to tax vacant homes.

Annual gains have dropped since the British Columbia government imposed a 15 % property transfer tax on foreign buyers in a bid to cool the market.

Tiah admits as many as ten per cent of the 217 luxury condos were purchased by international high rollers — even with B.C.'s pesky fifteen per cent tax on foreign buyers.

Here, restrictions on foreign buyers (Lex Weber in Zurich, Buyer Stamp Duty in Hong Kong) have strengthened rental demand in these two key financial centres.»

Detached homes were selling for more than $ 1.8 million in April before the province moved in to cool the market by implementing a 15 per cent tax on foreign buyers and extending rent control rules, two of 16 measures that were part of its Fair Housing Plan.