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.
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.
