Increased foreign buyer taxes in Canada's British Columbia (B.C.) is likely to have minimal impact on wealthy Chinese buyers, reports Better Dwelling (23 February 2018). According to Juwai.com, any dip in Chinese buyer demand in Canada isn't due to the raised foreign buyer taxes, but rather because of 'overpriced' real estate prices. “For higher-income buyers who are committed for personal or professional reasons to buying in Vancouver, the tax will not keep them from purchasing,” said Carrie Law, CEO of Juwai.com, China’s largest international property portal. However, Law further explained that the tax change could potentially affect lower-income families from China, as increased taxes is likely place greater financial pressure on mainland Chinese families with a more limited budget.
