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Stockholm, Vancouver see huge plunges in luxury property prices

By Patrick following x   2018 May 13, 3:55pm 381 views   1 comments   watch   sfw   quote     share    


THE party's over for now for those sitting on Vancouver's most expensive properties.

Prices at the top end of the market in the Canadian city plunged 7.6 per cent in the six months to March, making it the world's second-worst performer during that period, according to the latest global survey of prime properties by Knight Frank.

Only Stockholm, the Swedish capital, did worse, falling 9 per cent. ...

The findings - based on the top 5 per cent of the housing market in each city - lend support to anecdotal evidence of a slowdown in Vancouver's luxury segment after the hike of a tax on foreign buyers to 20 per cent from 15 per cent in February, the introduction of a speculation tax, and rising interest rates.
1   TrumpingTits   ignore (1)   2018 May 13, 5:36pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

You'll never see a Speculation Tax like that passed in CA. Not even with a ballot initiative. Dictatorship of the NIMBYtariat and all, ya know?

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