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Day: June 17, 2019

Vancouver Housing Market

Why Vancouver s housing crackdown could be good for NYC Foreign buyer tax to increase from 15阿拉爱上海同城 爱上海龙凤419桑拿 to 20%

Vancouver

British Columbia’s government is doubling down on its bid to lower Vancouver housing prices by curbing foreign demand, which could drive wealthy Chinese home buyers to other markets.

As of Wednesday, the special tax foreigners pay when they buy a home in the province’s largest city will increase from 15 to 20 percent, Bloomberg reported. The provincial government is also expanding the tax to other cities, such as Victoria, and adding a 2 percent tax for investors who don’t pay local income tax.

“B.C.’s real estate market should not be used as a stock market. It should be used to provide safe and secure homes,” finance minister Carole James told Bloomberg. “That’s why we’re cracking down on spec爱上海同城 爱上海ulators who distort our market.”

Chinese buyers comprise a significant portion of Vancouver s buyer pool.

Vancouver is grappling with the same influx of foreign investors that has helped push up housing prices in cities like New York and Miami. But while the Big Apple is trying to tackle the problem by increasing housing supply through rezoning and tax incentives, Vancouver is doing the opposite: going after demand爱上海龙凤419桑拿 上海龙凤论坛sh1f.

Hong Kong and Singapore have imposed similar t上海同城对对碰交友社区 上海夜网论坛axes on foreign buyers.[Bloomberg]爱上海同城对对碰 爱上海同城论坛 Konrad Putzier

Tags: canada, chinese buyers, foreign buyers, Politics, Residential Real Estate
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76 Eleventh

HFZ reveals rendering, teaser for Chelsea megaproject Bjarke Ingels-designed project will have 236 condos and a 137-key hotel

Ziel Feldman and a rendering of 76 Eleventh Avenue

HFZ Capital revealed a new rendering of its Chelsea megaproject, the Eleventh, in a new teaser website that went live Wednesday.

The rendering depicts the b上海千花网交友 上海千花网论坛lock-long project at 76 Eleventh Avenue, which will have two asymmetrical bronze-and-travertine towers connected by a skybridge. Designed by Danish architect Bjarke Ingels, the 950,000-square-foot development will have 236 units combined and 90,000 square feet of retail. The east tower will have 87 units plus a 137-key Six Senses Hotels Resorts and Spa. The west tower will have 149 units.

HFZ has said that asking prices for the apartments will range from $4 million to $8 million.

HFZ chief Ziel Feldman has said he wants to attain between $3,800 and $4,000 per square foo上海贵族宝贝交流区 上海贵族宝贝论坛t上海龙凤论坛sh1f 上海龙凤论坛 in sales, which would b上海贵族宝贝 上海千花网龙凤论坛e unpreceden爱上海同城对对碰 爱上海同城论坛ted in the area. In November, he told The Real Deal that the appeal of the Six Senses hotel and spa would help him land buyers.

Douglas Elliman Development Marketing is handling the project, and sales are expected to launch this spring.

According to the condo’s offering plan, units will average 1,928 square feet. The top penthouse will measure 7,000 square feet with a wraparound terrace and outdoor pool.

Feldman s firm acquired the site for $870 million — or $1,100 per foot — in 2015, one of the priciest land d[……]

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