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Vancouver Real Estate

Hong Kong had the exact same problem Vancouver is facing in regards to unaffordable real estate. Their solution was to implement a 15% tax on real estate purchased by foreign buyers and if the property is sold in less than 5 years the Seller has to pay an addition "exit" tax. That stopped the easy money flow into Hong Kong and reduced the rapid real estate increases.


I hate to tell the Canadian government - the issue is not a few "bad egg" realtors in Vancouver causing the problem. The flood of opulent money coming in with little to no monitoring or restrictions is the real issue.

Alexandra Axsen
Lake Okanagan Realty Ltd.
Managing Broker
Tel: (250) 870-2792