Mayors outside Metro Vancouver are concerned about the impact of a new 15 per cent tax on their communities. The tax only applies to purchases made by foreign nationals on properties in Metro Vancouver. Finance Minister Mike de Jong says he would like to wait and assess the impact outside of Metro Vancouver before making any changes. The largest worry is that foreign buyers priced out of Vancouver will shift money elsewhere in B.C. Data released Tuesday by the provincial government showed 3.5 per cent of CRD properties were purchased by foreign buyers.

Source: CBC News July 27, 2016 21:00 UTC