Category: Real Estate Board of Greater Vancouver News Releases

The BC legislature passed legislation last night that institutes the foreign buyer tax. Real Estate Board of Greater Vancouver President Dan Morrison issued the following statement on this development: "Hundreds of British Columbians head into the BC Day long weekend facing stress and uncertainty concerning the largest financial transaction of their lives because of the provincial government's abrupt intervention into the Metro Vancouver housing market this week. “The Premier’s decision not to exempt transactions where Read More...

Effective August 2, 2016, an additional property transfer tax applies to residential property transfers to foreign entities in the Greater Vancouver Regional District. The Greater Vancouver Regional District includes Anmore, Belcarra, Bowen Island, Burnaby, Coquitlam, Delta, Langley City and Township, Lion’s Bay, Maple Ridge, New Westminster, North Vancouver City and District, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, Surrey, Vancouver, West Vancouver, White Rock and Electoral Area A. The additional tax does not apply to Read More...

The provincial government announced that they will implement a 15 per cent foreign buyer tax on all residential transactions effective August 2, 2016. Real Estate of Board of Greater Vancouver President Dan Morrison issued the following statement on today’s announcement: “Housing affordability concerns all of us who live in the region. Implementing a new real estate tax, however, with just eight days’ notice and no consultation with the professionals who serve home buyers and sellers Read More...