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Vancouver’s proposed foreign buyer ban akin to Chinese head tax, says agent

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Canadian Realestate Magazine | 04 Dec 2017, 10:55 AM Agree 0
As part of Vancouver’s 10-year housing strategy, a total prohibition on foreign buyers has been proposed—and one sales agent likens it to the Chinese head tax from the city’s not-too-distant past
  • M | 04 Dec 2017, 11:37 AM Agree 0
    This has been the ethnic Chinese realtor's experience; people in Vancouver pointing to her and saying: "You're one of those". A disgrace!
  • Kurt D | 04 Dec 2017, 03:05 PM Agree 0
    Vancouver would not be the first place in the world to implement a prohibition on foreign buyers... a number of places have that, or a version of it (specific zones where foreign buyers can buy)... I think this agent is less worried about putting a «Chinese » face to it, and more worried about the property flipping gravy train agents have enjoyed for years slowing down... The city is hollowing out, they need a solution that works...
  • Michael | 04 Dec 2017, 06:56 PM Agree 0
    How can you possible liken the foreign buyer tax to the head tax? The head tax was paid by people immigrating to Canada to live here not to buy real estate. The head tax started at $50. Immigrate to Canada today and you still have to pay numerous fees to the government.

    The foreign buyer tax is just that. A nominal tax paid by people who are not citizens that want to park money here.

    The author of this statement sounds self serving with this erroneous statement.
  • Beverley | 06 Dec 2017, 09:38 PM Agree 0
    Australia had the same problem with the housing market so the government limited foreign buyers to new homes only. Nova Scotia has limits on out of town/out of country buyers for some types of real estate there as well. Vancouver has to do something. Sounds like a good idea unless somebody has a better suggestion. There are a ton of vacant homes and condos in the GTA as well. What a mess.
  • A.R | 10 Dec 2017, 09:31 PM Agree 0
    As a 25 years veteran in this business it is even late for prohibition of foreign buyers, they should do it 10 years ago and the three level of government must do it ASAP, if the government care about the next generation of Canadians who born here they must do it right away, even now a young professional generation with a good income can not afford to by a small condo, we have to think about our children and grand children, these agents think about the $Millions they are making right now and use any excuses to prevent any thing to prevent prohibition by using the name of their nationality like (Chinese), they are not only foreign buyers, many other nationalities are buying too, Iranian, Russian, Korean and more, I'm one of these nationality, but I think more about my kids and grand children's who born here and they don't have chance to live here if goes like this, by the way if you think the foreign buyers didn't make the market like this, why you are worry for prohibition let it happen, like Australia, Hong Kong, Malaysia and other countries, they did it 10 years ago their market fixed, please don't think only on your profit, think about the next Canadian generation, let the Government stop parking big money to our Real Estate market.
  • Geng Wu | 04 Jan 2018, 08:31 AM Agree 0
    Sounds like someone just using the racism card to keep her making her millions. Immigrants that intend to be Canadian citizens paying a head tax can't be compared to "foreigners" buying up real estate for speculation. I agree that there is still racism in Canada and the head tax was racist towards the Chinese but banning foreign buyers from buying real estate has nothing to do with racism. Many countries around the world have rules that prevent foreigners from buying real estate. It would be a ban on all foreigners and not a ban on only mainland Chinese. There are many ways around this so it would be pretty useless anyway. Any foreigner can just setup a holding company or get a Canadian relative to buy up the real estate.
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