Possible Real Estate Investment Opportunity in Vancouver BC due to Tax Challenge
11-14-2018, 02:50 PM
All other things being equal I think this is a good opportunity but as your aware there are a ton of factors influencing real estate prices so this is just a chance I am sharing rather than a guarantee.
Real estate prices in Vancouver, BC are quite high and the provincial government introduced the foreign buyers tax and the soon to be introduced speculation tax to hurt prices. It’s impossible to estimate the effect of these taxes on prices but I’d say if they were removed we’d see a 10-20% increase in residential prices.
Currently going through court is the case against the foreign buyers tax (which could likely be applied to the speculation tax).
Looking at the legality I think they will win on that it violates several of our international treaties and the charter challenge. Barry Appleton who is a highly respected NAFTA lawyer gave a good explanation of why it violated NAFTA here https://www.straight.com/news/746041/tra...ates-nafta
Lawyers update on the trial is here
http://www.branchmacmaster.com/foreign-n...perty-tax/
Amended notice of claim is here
http://static1.1.sqspcdn.com/static/f/29...%2F15xE%3D
If this passes I expect prices in Vancouver to rise immediately. The answer should be given in 2019.
The market here has dipped and right now may be the best time to buy to take advantage. I am just alerting people to a possible opportunity, read the research and make your own opinions.
Real estate prices in Vancouver, BC are quite high and the provincial government introduced the foreign buyers tax and the soon to be introduced speculation tax to hurt prices. It’s impossible to estimate the effect of these taxes on prices but I’d say if they were removed we’d see a 10-20% increase in residential prices.
Currently going through court is the case against the foreign buyers tax (which could likely be applied to the speculation tax).
Looking at the legality I think they will win on that it violates several of our international treaties and the charter challenge. Barry Appleton who is a highly respected NAFTA lawyer gave a good explanation of why it violated NAFTA here https://www.straight.com/news/746041/tra...ates-nafta
Lawyers update on the trial is here
http://www.branchmacmaster.com/foreign-n...perty-tax/
Amended notice of claim is here
http://static1.1.sqspcdn.com/static/f/29...%2F15xE%3D
If this passes I expect prices in Vancouver to rise immediately. The answer should be given in 2019.
The market here has dipped and right now may be the best time to buy to take advantage. I am just alerting people to a possible opportunity, read the research and make your own opinions.