Recent data shows the number of real estate transactions with foreign buyers has risen, but is still far below the level prior to the implementation of the foreign buyer tax:
The data shows five per cent of the 6,105 property transfers in September involved foreign nationals, up from 2.5 per cent in April.
That remains far below the percentage of foreign nationals buying homes before the former Liberal government implemented a 15 per cent foreign buyers tax in August 2016 in an effort to cool the hot housing market.
The BC Finance Ministry previously reported that from June 10 to Aug. 1, 2016, 13.2 per cent of all property transfer transactions in Metro Vancouver involved foreign buyers.
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