The 15 per cent tax on foreign homebuyers in Vancouver is hitting houses more than condos according to builders.
A report by Reuters reveals that developers are finding a strong slowdown in sales of detached single-family homes: "I have lost two homes, at least, based on the government's latest ruling," said Larry Clay, founder of Clay Construction.
Morningstar says that sales of its detached homes in a new Maple Ridge development have dried up.
Meanwhile, condo sales appear to be holding up well with developers reporting significant interest in new developments.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: