Canadian agencies wary of calls for overseas buyer curbs

Canadian overseas property agencies are monitoring growing calls for protectionism, worried that booming international sales markets in cities like Vancouver could be affected if local campaigners get their way and the government imposes purchase restrictions on buyers from abroad.

Speaking exclusively to OPP this week, Nicola Way, owner of agency Best Homes BC, said “there are definitely suggestions in the media that Canada should implement the same sorts of restrictions that Australia has when it comes to overseas buyers.”

However, she adds, “the fact is that there is no definitive data available showing the origins of buyers as many opt to open Canadian companies and purchase properties through them, even though the owner may be living in China for example.”

Source: OPP.org.uk