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23:56 20-06-2018
Property in Sydney and Melbourne falls in price
23:34 20-06-2018
Private investors show interest in Romania’s housing market
23:18 20-06-2018
Russia imposes additional tariffs on U.S. road construction equipment
22:57 20-06-2018
Moscow holds tender for bus depot construction worth $23 million
22:32 20-06-2018
9-storey hotel with lawns to be built in center of Moscow
22:00 20-06-2018
500,000 vehicles crossed Crimean bridge, with bus share growing
21:26 20-06-2018
$6.8-billion Vancouver airport expansion is launched
23:49 19-06-2018
80% of families in Latvia cannot afford to buy housing
23:05 19-06-2018
Sales of new housing in Israel are slowing down
22:41 19-06-2018
New residential projects in Monaco are in high demand
22:22 19-06-2018
Russian Railways may take part in ambitious Latin American project
21:57 19-06-2018
Japan invites foreign builders: “We need people who will start immediately”
21:32 19-06-2018
Erdogan plans to build third nuclear power plant in Turkey. Who will implement it?
21:04 19-06-2018
Nord Stream 2 AG received almost all pipes for construction
23:54 18-06-2018
BIM-technologies used in construction of eight World Cup stadiums in Russia
23:35 18-06-2018
In which countries is fastest rise in house prices?
23:18 18-06-2018
Skyscraper shaped like iPod to be erected in Dubai
22:57 18-06-2018
US manufacturers of construction equipment lash out at Trump over tariffs
22:31 18-06-2018
Ukraine intends to stop Nord Stream 2, creating special group in EU
22:03 18-06-2018
$32-million overhead passings to be built in Moscow region
21:29 18-06-2018
Polish diplomats “work hard” to complicate Nord Stream 2 construction
23:56 15-06-2018
Having agreed with North Korea, Trump did favor to Russian Gazprom
23:19 15-06-2018
Spanish bank sells out property for less than €75,000
22:47 15-06-2018
Elon Musk to build fastest train system in Chicago. Can everyone afford it?
22:24 15-06-2018
“One-day route” map developed in Russia for 2018 World Cup guests
21:52 15-06-2018
Immigrant reception center needs to be built for $1,9m
21:33 15-06-2018
Cultural and sports center shaped like “super-box” built in Moscow
21:06 15-06-2018
Two skyscrapers to be erected in northern Moscow
23:45 14-06-2018
Turkish media: Russia expands geography of its nuclear energy projects
22:25 14-06-2018
20 metro stations to be built in new Moscow
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Real estate in Vancouver becomes more affordable

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Real estate in Vancouver becomes more affordable

Prices for holiday homes in British Columbia will fall in 2018, as the new tax, which allows for controlling the trade and actions of foreign investors, encourages more active selling.


At the same time, this tax impedes the purchase of housing, according to a forecast of the brokerage firm Royal LePage in Toronto. The average price is expected to drop 2.8% to $411,400.

The new speculative tax introduced in 2018 by the provincial government, targets buyers of non-elite residences in some areas, including parts of Vancouver and Abbotsford metropolitan areas, and is 0,5% of the property value. In 2019, it will grow to 1% for Canadians outside the province and up to 2% for foreign buyers. For residents of the state, it will remain at 0.5%, Bloomberg reports.

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