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 activity.
Not exact matches
Foreign nationals could avoid the [new] tax, which would take effect on Aug. 2,
by purchasing properties through locals — something that is already suspected to be common practice.
According to Dinani and other realtors, any
purchase of a Metro Vancouver property
by a
foreign national (excluding the treaty lands of the Tsawwassen First Nation) that closes on or after August 2, 2016, will be subject to the tax.
Foreign nationals could avoid the tax, which would take effect on Aug. 2,
by purchasing properties through locals — something that is already suspected to be common practice.
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By purchasing, downloading, or using technology or software from the Site, you agree to abide
by applicable laws, rules, and regulations including, but not limited to, the Export Administration Act and the Arms Export Control Act, and you represent and warrant that you will not transfer, by electronic transmission or otherwise, the software or technology to a foreign national or a foreign destination in violation of the la
by applicable laws, rules, and regulations including, but not limited to, the Export Administration Act and the Arms Export Control Act, and you represent and warrant that you will not transfer,
by electronic transmission or otherwise, the software or technology to a foreign national or a foreign destination in violation of the la
by electronic transmission or otherwise, the software or technology to a
foreign national or a
foreign destination in violation of the law.
This is according to an annual survey of residential
purchases from international buyers released today
by the
National Association of Realtors ®, which also revealed that nearly half of all
foreign sales were in three states: Florida, California and Texas.
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.
Many
foreign nationals realize that investing in U.S. real estate offers them both security and stability, which they may not be able to find in other areas of the world, but they often are frustrated
by their inability to leverage their real estate
purchases.
According to a report
by the
National Association of Realtors ®, for the time period ending 1Q2010,
purchases by foreign buyers (those whose main residence is outside of the United States) accounted for $ 907B, a 4.45 % share of the residential market.
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 (NAR).