Pursuits
Vancouver’s $1,000-a-Day Home Price Escalation Stutters
- Sales plunge in city as successive measures damp sentiment
- Developers are ‘running for the door,’ real estate agent says
Is Canada's Economy on the Verge of a Financial Crisis?
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The graceful six-bedroom house in a Vancouver neighborhood flanking one of Canada’s top universities and a massive park would usually receive a slew of offers above its C$4.5 million ($3.4 million) asking price.
That’s if its July listing hadn’t coincided with the week the government announced a 15 percent tax on foreign buyers intended to cool the market. The grey wood-frame house was soon pulled and relisted for C$100,000 less before finally closing seven weeks later at just over C$4 million, 9 percent below its original price.