chrishemsworth
Joined 5 years ago
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Jun 27
Joined 5 years ago
I don't any reason why we shouldn't do that. It discourages people in your position from hanging on to multiple residences, and it levels the playing field a bit, at least until some equilibrium is reached in which existing and incoming demand approximate the available stock and pace of development.
For example, in BC (as of 2020), 9% of new condos (built after 2016) were owned by foreign interests, which is down from 2019, but probably holds steady for a number of years.
https://betterdwelling.com/foreign-buyers-own-1-in-10-recent...