- A new, province wide "speculation tax," focused on vacant homes. The tax will be two per cent of the assessed value of properties in 2019.
- An increase to the foreign buyers tax from 15% to 20% and the expansion of the tax to properties in other major municipal areas in B.C. outside Metro Vancouver.
- An increase in the property transfer tax from 3% to 5% for homes worth more than $3 million
Last month’s sales were 7.1% above the 10-year January sales average. By property type, detached sales were down 24.8% from the 10-year January average, attached sales increased 14.3% and apartment sales were up 31.6% over the same period.
A large part of my business comes from referrals, so if you or someone you know is interested in buying and/or selling, please pass along my contact information and I would be happy to speak with them about how I can help.