Real Estate Agency, said the University of Vancouver, since the British Columbia provincial government regulations apply to tax 15% for transactions with foreigners, the number of houses sold in the area next month 10/2016 fell sharply as buyers continue to hold an attitude of "listening".
Vancouver housing market is cooling down. Photo: Reuters
Reportedly, this is the sharp decline in the 2nd month in a row in the Great Vancouver after 32.6% have fallen in the previous month.
Dan Morrison, Chairman of Real Estate Agency Great Vancouver area evaluated, changes in market conditions and a series of interventions by the government is the cause of fluctuations in the real estate market.
He said that the potential home buyers "listens" to be able to better understand the current change how meaningful.
According to Mr. Morrison, this is a slump in the number of houses sold deepest in recent months.
Recently, both the federal government and the provincial government of British Columbia, have introduced measures to cool the real estate market. In British Columbia, all foreign customers are subject to 15% tax rate when conducting real estate transactions.
At the federal level, the Government also launched five important measures to tighten mortgage lending to buy housing in the context of Canadian real estate market is shaky red alert.
Real Estate Agency, said the Vancouver Foundation, the aggregate index across the region in the month 10/2016 is 919,300 CAD / unit, compared to the same period last year but up 24.8% compared with the previous month decreased by 0 ,8%.
Currently, Vancouver's hottest housing market in Canada, caused mainly come from foreign clients.
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