In this edition of Graphic Intelligence, we look at how the Foreign Buyers Tax, introduced in Metro Vancouver in August, 2016, affected housing sales in the region. It’s clear that the surrounding regions did not see a noticeable change in sales, while greater Vancouver has seen them fall by an estimated 40 percent. This begs the question: looking at Vancouver as a case study, what implications would a Foreign Buyers Tax have on the Toronto market?
To read more about how the burden of Vancouver’s tax may have fallen on the wrong buyers, and what this could mean for Toronto, check out “Ontario Shouldn’t Follow Vancouver’s Lead on Foreign Buyers Tax”, by Benjamin Dachis, Hamza Mhadi, and Jairo Pinto.
Aaron Jacobs is a Researcher at the C.D. Howe Institute.