I can't personally trace it, but the many on the seattle subreddit claim prices in Seattle, and especially in Vancouver, BC are way high because of chinese purchases. I think there is a new law that you can't have an agent buy a place for you sight unseen anymore.
Live in Vancouver and worked in Buying Property field
(One of the small people who actually makes the stuff happen.)
Bigger foreign buyer tax, but there are ways to mitigate it.
Don't know about any rules on sight unseen.
They did start a Empty housing tax, where if your house isn't occupided for some number of months you get dinged.
(avoids vacant property. ways to get around it as well but harder to do.)
Prices have gone up in the last 2 years but not nearly as much.
As before the changes.
Old saying (from 10+ years ago) was if you can't sell your house in 2 days, fire your realator and call a Chinese Realator. .... now we see the price of it.
I can't personally trace it, but the many on the seattle subreddit claim prices in Seattle, and especially in Vancouver, BC are way high because of chinese purchases. I think there is a new law that you can't have an agent buy a place for you sight unseen anymore.
Live in Vancouver and worked in Buying Property field
(One of the small people who actually makes the stuff happen.)
Bigger foreign buyer tax, but there are ways to mitigate it.
Don't know about any rules on sight unseen. They did start a Empty housing tax, where if your house isn't occupided for some number of months you get dinged.
(avoids vacant property. ways to get around it as well but harder to do.)
Prices have gone up in the last 2 years but not nearly as much.
As before the changes.
Old saying (from 10+ years ago) was if you can't sell your house in 2 days, fire your realator and call a Chinese Realator. .... now we see the price of it.