Here’s what really matters for you.

3%

Property Transfer Tax
for Home Values Over $2M
An increase in the property transfer tax for luxury homes, with a new tier of 3% on the portion of a purchase above $2 million.

That is on top of the current rates, which impose 1% tax on the first $200,000 and 2% for the portion between $200,000 and $2-million.

For the first time since

1998
Property buyers will be required to provide their citizenship information. Bare trusts purchasing property will need to disclose their beneficiaries.

Provincial government will be monitoring these numbers.

91%

Sales to New Listings Ratio
Vancouver’s housing market has an almost unheard of 91% sales-to-new listings ratio. Almost every new listing is getting absorbed within a month.

Canada as a whole has seen a 17% increase in housing costs.

Property Transfer Tax Exemption for newly built homes valued up to

$750K
Exemption valid for Canadian citizens or Permanent Residents only. Homes must be owner-occupied for at least a year after purchase date. Relatives do not qualify.

$475K

is the number for
First Time Home Buyers

Tax exemptions will continue for First Time Home Buyers purchasing a home valued at $475K or less.

+ 6,315

People in the Province
B.C.’s economic growth is attracting people from other regions of the country, with a net inflow of 6,315 people from other regions.

1/3 of the new population to the province came from Alberta.

Amanda Walker
The Walker Real Estate Team
Homelife Benchmark Realty Corp.
1 – 1910 152 Street
White Rock, .B.C
www.WalkerRealEstate.ca