Foreign Ownership tax led to Sky-rocketing price increases in Kamloops
- Babba_not_Gump
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Foreign Ownership tax led to Sky-rocketing price increases in Kamloops
https://cfjctoday.com/2021/10/25/b-c-s- ... tru-study/
Bill 28, B.C.’s foreign ownership tax led to sky-rocketing price growth in exempt cities like Kamloops: TRU study
Unlike parts of the Okanagan, Kamloops was exempt from this tax and it led to a surge in house prices.
From the report
January 2011 to August 2015, the average price increase per month is $407.87.
August 2015 to February 2018, the average price increase per month is $1991.66.
February 2018 to July 2020, the average price increase per month is $2093.71.
And what this study does include are the insane price increase in late spring, early summer of this year.
For me as a home owner and thinking of downsizing next year, keep it up.
Bill 28, B.C.’s foreign ownership tax led to sky-rocketing price growth in exempt cities like Kamloops: TRU study
Unlike parts of the Okanagan, Kamloops was exempt from this tax and it led to a surge in house prices.
From the report
January 2011 to August 2015, the average price increase per month is $407.87.
August 2015 to February 2018, the average price increase per month is $1991.66.
February 2018 to July 2020, the average price increase per month is $2093.71.
And what this study does include are the insane price increase in late spring, early summer of this year.
For me as a home owner and thinking of downsizing next year, keep it up.
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- Grand Pooh-bah
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- Joined: Jul 13th, 2012, 7:18 am
Re: Foreign Ownership tax led to Sky-rocketing price increases in Kamloops
I have no doubt this is true, but Kelowna has seen the same kind of ridiculous increases over the last couple of years as well, so I suspect it's not just the spec tax. I know it's a little hypocritical of me, having already cashed out of the Okanagan and with no intention to sell again soon, but I find it hard to celebrate housing becoming less affordable in the Shuswap and Thompson areas too.bb49 wrote: ↑Oct 28th, 2021, 6:30 pm https://cfjctoday.com/2021/10/25/b-c-s- ... tru-study/
Bill 28, B.C.’s foreign ownership tax led to sky-rocketing price growth in exempt cities like Kamloops: TRU study
Unlike parts of the Okanagan, Kamloops was exempt from this tax and it led to a surge in house prices.
From the report
January 2011 to August 2015, the average price increase per month is $407.87.
August 2015 to February 2018, the average price increase per month is $1991.66.
February 2018 to July 2020, the average price increase per month is $2093.71.
And what this study does include are the insane price increase in late spring, early summer of this year.
For me as a home owner and thinking of downsizing next year, keep it up.