New numbers from the provincial government show the amount of foreign buyers in Metro Vancouver real estate continues to stabilize.
2.9 per cent of the Metro Vancouver real estate transactions in October involved foreign nationals.
It’s a slight increase from the 1.8 per cent seen in September, but still representing a sharp decline from the 13.2 per cent in the months before the foreign buyer’s tax was put in place.
However, Metro Vancouver’s steep drops aren’t being seen everywhere.
In the Victoria area, foreign sales came in at 6.3 per cent, which actually represents an increase over the 3.9 per cent before the implementation of the new tax.