RealSpace Company & Technology Blog

Real Estate Down, Demand for 3D Renders Way Up

The data is in, albeit a small sample. Areas of Metro Vancouver saw an immediate effect from the implementation of the foreign buyers tax. According to the Vancouver Sun, August 2016 detached house sales decreased by up to 86% compared to August 2015 sales. It is too early to tell whether the tax has fully dissuaded offshore real estate investors from investing in this market, but it will become increasingly more difficult for realtors to sell property following the status quo. With a record number of licensed realtors now working in BC and the potential for a price correction in the market, new and unique methods will have to be adopted in order to sell homes.

Tags: Real Estate, Vancouver, News,
Categories: Real Estate , News

Read More