Foreign nationals buying Vancouver real estate would have to pay an additional tax of 15 per cent starting August 2, reports the Associated Press.
UBC business professor Thomas Davidoff told AP that the change will make it harder for U.S. citizens to buy homes in Canada on work permits, as they would have to become permanent residents to avoid the tax.
The AP story appeared on Sky News Australia and Seattle Times.
In an interview with the Canadian Press, Davidoff questioned whether the new tax will prevent buyers from hiding their identity by funneling cash through a Canadian permanent resident or corporation. The story was published in the Globe and Mail, BNN, Metro News, CKNW (with audio interview), and Kelowna Capital News.
The South China Morning Post also quoted Davidoff and cited housing and foreign immigration research by UBC geographer David Ley.
