Province to release updated statistics on foreign real estate purchases

Finance Minister Mike de Jong is set to release the latest snapshot of real estate transactions in this province.

B.C’s superheated housing market has prompted the government to track property sales, and de Jong will release the latest statistics
later this morning.

The data comes one day after the B.C. Liberal government announced an additional 15 per cent property transfer tax on Metro Vancouver homes purchased by non-Canadians.

READ MORE: Some concerned about B.C.’s new foreign buyer tax

Many have blamed offshore ownership for sky-high home prices and a near-zero vacancy rate in parts of B.C. and de Jong says, over the last two months, number crunchers have gained an increasingly clear picture of the issue.