Vancouver’s interesting experiment may provide lessons
for other attractive ‘global cities’:
“There is a city
which is suffering a worse property bubble than Sydney, whose residents are
more priced-out than Londoners, and where there is a greater divide between the
housing haves and have-nots than even San Francisco.
That city is
Vancouver, and in response to these mounting challenges, the west-coast
Canadian metropolis recently imposed an extraordinary new tax on foreign buyers
– whose impact is now being watched closely by other cities grappling with
bloated property markets.”