Enes
Moscow
WINNER OF THE RF MINSTROY MEDIA COMPETITION 2016
Go to mobile

All news

ARCHIVE NEWS

«    November 2017    »
MonTueWedThuFriSatSun
 12345
6789101112
13141516171819
20212223242526
27282930 

Vancouver real estate affected by unemployment growth

logo russianconstruction.com
Vancouver real estate affected by unemployment growth

Due to a new foreign homebuyers' tax, which will decrease purchase activity in Vancouver, the most populous city in the province, the city's high prices of real estate will be affected by a potential growth in unemployment among the local dwellers, Fitch Ratings announced on the 22nd of August, BNN.ca reports.


As a reference, Vancouver implemented a 15% tax on foreign home buyers to make housing more affordable for the locals. However, Fitch analysts indicated, that the market might have begun to cool even before the tax, that makes Vancouver home prices more vulnerable to potential changes.

According to Susan Hosterman, director of U.S. structured finance at Fitch Ratings, the foreign investors have been buttressing real estate in Vancouver, what prompted more demand and an increase in prices.

Related publications

PARTNERS

UP