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No one said they have to be empty for foreign real estate investment to be a problem. Especially when you have you foreign nationals and companies making it har
by tannedNerd 6y ago
No one said they have to be empty for foreign real estate investment to be a problem. Especially when you have you foreign nationals and companies making it harder for your local residents to buy property and prosper. I think something like Vancouver’s, “ Foreign Buyers Tax (which) applies to foreign national, a foreign corporation, or taxable trustee buying a residential property in BC. BC Foreign Buyers Tax rate is 20% of the property's fair market value after February 21, 2018.” Is a fair comprise to allow people who have no local ties to invest in the market but allows the residents and those with local ties (those who will add money to local economy, shop/ eat local) a better shot then those who just want to invest.