Times Colonist: Foreign buyers tax coming to Victoria, Nanaimo

  • February 20, 2018

EXCERPT:

Jock Finlayson, executive vice-president of the Business Council of B.C., said: “It’s quite unprecedented in the housing market to have several measures like that brought forward so we will see how it filters through and affects the market. We don’t know at this point.

“It could be disruptive. It may be nothing more than a hiccup.”

Government initiatives will impact the upper end of the market, Finlayson said.

About half a billion dollars of additional revenue generated from the various housing-related announcements will go to support government afforable housing efforts and other government programs, he said.