Vancouver has remained consistently on the top spot on the list of most expensive cities to live in. This is due to a lot of factors. Last year for example, Vancouver introduced a 15% foreign home buyers Tax. The TAX was meant to discourage foreign investors from speculating on the housing market. Although there is no data available to prove that foreign investors are a factor or contributing to the red hot housing market. Although the amount of sales unit slowed but house prices didn’t drop in Vancouver. In fact house prices in Vancouver today are up over 3% in value and still climbing. This shows that maybe foreign home buyers are not the reason for house values going up so much.
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