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The Taxes That Sent Vancouver’s Luxury Housing Market Reeling

April 16, 2019, 9:15 AM

Vancouver’s housing market is buckling under a slew of taxes and regulations introduced since 2016 to tame years of relentless growth that made the city the most unaffordable on the continent.

The high end felt the impact first and has been the hardest hit: prices in West Vancouver, Canada’s richest neighborhood, are down 17 percent from their 2016 peak. The slowdown is now broadening: home sales in March were the weakest since the financial crisis and benchmark prices fell 8.5 percent from their record last June.

Vancouver realtor Lisa Sun stands in the door of a mansion she was hired to sell by its wealthy Chinese-Canadian owner.
Photographer: Jennifer Gauthier/Bloomberg

It’s become more costly to both buy and own expensive homes, particularly ...

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