government data shows real estate transactions involving foreign buyers steadily declining for the first six months of 2018. Data on property transfer tax released by the Ministry of Finance shows the percentage of residential real estate involving foreign buyers started at 3.3 per cent in January. An Insights West poll reveals that residents believe the region is in a major housing crisis and blame foreign buyers as one of the primary causes. According to a poll by Insights West, residents believe the region is in a major housing crisis and blame foreign buyers as one of the primary causes. In 2017, Vancouver was the first city in Canada to introduce an empty homes tax.

Source: thestar August 17, 2018 23:43 UTC