The NDP look to stabilize the market with a PTT increase; foreign buyer tax of 20% including Victoria; and a 2% speculation tax!
I’ve always bought concrete as I don’t feel there is enough of a discount on the wood-framed product.
Based on the one example we have in Victoria, B.C., I would say approximately 10 to 12%.
Rogers talks about his experience shopping for a home in this market.
Fundamentally I agree with the new rules; however, it will create some challenging practical problems.