New real estate rules announced by the federal government Monday should dampen home sales across Canada, according to two major banks. Finance Minister Bill Morneau announced “three complementary measures designed to reinforce the Canadian housing finance system.” Among the changes, the government will close a loophole that allowed foreign buyers who are not residing in
Wealthy foreign investors are likely to shift their money to the commercial side of Vancouver’s real estate market to avoid a housing tax, just as deals for office, retail and industrial properties reach an all-time high, brokerage Re/Max Holdings Inc. said. Commercial real estate transactions in the city climbed to C$7.14 billion ($5.41 billion) in
John Duchow and Marla Clarke dreamed of buying a home in Vancouver. But when housing prices kept outpacing their savings, the pair say they became real estate refugees, forced out by an ever-climbing market. Duchow and Clarke decided to look east to St. John’s, where Duchow has family roots and Clarke was more than willing to plant some new ones.
