Quote:
Originally Posted by StylinRed
hefty taxation on foreign ownership has its benefits, better than our plan...of what? tracking? lol the data exists
as for the UK the average price of a home has been on the rise and it's now at $405,000CAD (thats amazing considering the size of the uk and its population) but, as i posted earlier, the UK will be taking steps to limit foreign laundering of money into their housing market, which theyve admitted to being a major problem
Why can't Britain build enough homes to meet demand? - BBC News (average price info, home construction deficit) |
Foreign Speculation Taxation would benefit government coffers for sure, but I highly doubt it will have much effect on the demand from foreign speculators.
Have a look at Sydney . They don't even list the prices, only states "Auction" -as in a group of people get together in an Open House and bid openly like a Christie's Auction. - THIS is what causes the insanity, along with cheap money and a government that flogs RE like a pimp in Bangkok.
http://www.realestate.com.au/buy/in-...sw+2000/list-1
btw, 2 bedroom condos in the CBD go for about AUD$800,000 - median price ($800,000 CAD) there.
This is all in a market that taxes foreign speculators, like we so demand as a cure-all for our problems.