REALTORS® serving Calgary and area

 

CREB Now Logo

Calgary's trusted source of real estate news, advice and statistics since 1983.

 

Stories Tagged - Metro Vancouver

B.C.’s new speculation tax will impact several real estate markets in the province, including Victoria, Kelowna and Metro Vancouver.
Getty Images
News

June 27, 2018 | Barb Livingstone

Up in the air

New B.C. speculation tax could prompt Albertan vacationers to look closer to home for second-property purchases

Scott Henderson has split his work time between clients in the Okanagan and those in his hometown of Calgary for the last 15 years.

Eight months ago, the marketing/communications agency owner got pre-qualified for a mortgage for a second residence in Kelowna. Then, this February, B.C.'s provincial government announced a speculation tax on out-of-province and foreign owners to discourage buy-up of housing by investors who, it claims, leave homes empty and drive up home prices. A homeowner can avoid the tax by living in, or renting out, the home half the year.


Connect With Us