There will be no reprieve from a new tax on foreign buyers who have signed contracts to purchase homes in Metro Vancouver, where they snapped up almost 10 per cent of recent property sales, B.C. Finance Minister Mike de Jong says.
Taiwan’s, and in particular, Taipei’s housing prices have increased at rates which made Toronto and Vancouver’s price increases seem anemic. The government introduced a luxury tax of 15% a few years ago (sound familiar?). The luxury tax had unintended consequences on the Taipei real estate market and created distortions in housing prices. Here is an article […]