Attn: Buyers & Sellers in Victoria, British Columbia for sale

# Bath
2
# Bed
3
You should be very clear on the new NDP-Green Party government's planned measures to cool, if not correct, the real estate market:
* The BC Foreign Buyer's Tax will be doubled to 30%;
* The BC Foreign Buyer's Tax will extend throughout ALL of BC, not just Vancouver (Victoria and Cowichan Valley included);
* The Property Transfer Tax will be raised significantly, up to 12%;
* A massive increase in supply with 114,000 new units being built;
* A speculator tax of 2% per year will be place on empty homes as well as on those owners who have more than one investment property;
* A task force on foreign money laundering and speculative tax fraud will be created;
* Implementing rent controls by removing the 'fixed term' loophole in the Residential Tenancy Act that allows rent increases beyond the CPI indexed increase in regular leases
* A capital gains tax on people who have lived in a property less than 5 years when they sell.
For those looking to sell or buy, the market will be changing to the downside very quickly with those measures.
I have two properties available for sale for those looking for long-term rental income or those looking to buy their first house:
* Fairfield - A 1944 four bedroom, 2 bath house for $703,000
* Hillside - A 1957 three bedroom, 2 bath house for $619,000
Please contact me if you are interested.