British Columbia, flooded with Chinese money, to track condo buyers

The Canadian province of British Columbia is taking another step to crack down on tax evasion through real estate, this time creating a registry to track ownership of new condominium units under construction. British Columbia’s move follows an earlier 15-20 percent tax on foreign home buyers, which largely targets the flood of mainland Chinese who have sent home prices soaring double digits in the last four years, and have drawn accusations of tax illegalities. Under […]

source https://therealdeal.com/2018/11/06/british-columbia-flooded-with-chinese-money-to-track-condo-buyers/