Quote:
Originally Posted by Hondaracer
The thing is, those people are probably not the mainlanders looking to park money in some safe haven. Do you really think when some guy worth 100 mill sees a bunch of his friends moving to Vancouver and buying in west etc sending their families over to be "safe" and get an education, this 15% automatically means they will no longer want to come?
If they are responsible for the luxury market, do they drop down to a lesser property because of the tax?
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While I don't disagree that a % of these mainlanders and or any other insanely rich foreign person won't care about the 15% for a variety of reasons we should remember that not all the people buying up these properties are this type. Speculations from people are this group makes up a huge %of people buying up places but we really don't know exactly what % that is. There are a ton of rich people legitimately buying places. Take someone from Hk for example, a 4 million house here is still an insane deal to them consider how much 4mill gets you in HK.
The main point is I think a lot of people regardless for their reasons will buy it will care about the 15% to a degree and that tax alone will be enough to deter some, some others will just choose to either suck it up and pay it anyways, or just not care at all.