December 2018

2018 Nanaimo Region Real Estate Recap

Posted on Dec 29, 2018

Since 2018 is winding down I thought it was time to recap the year* in real estate for the Nanaimo, Vancouver Island region. Despite some challenges, such as increased interest rates and the foreign buyers tax, we have seen another strong year in the Central Vancouver Island region, with strong activity in the residential real estate market with lo...

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Foreign Buyer Tax

Posted on Dec 01, 2018

Today I would like to address one of my least favorite topics: The Foreign Buyer Tax

Since February 21st, 2018 an 'additional property transfer tax for foreign entities' (Foreign Buyer Tax) of 20% applies to real estate purchases in some specified areas of British Columbia. 

What does it mean if I have to pay the tax?
It means that the foreign buyer h...

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