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"Vancouver Luxury Property Is North America’s Worst Performer
... Prices at the top end of the market plunged 7.6 percent in the six months to March, making it the world’s second-worst performer during that period, according to the latest global survey of prime properties by Knight Frank LLP. Only Stockholm did worse, falling 9 percent, while Toronto rose 6 percent and the top gainer was Seoul.
The findings -- based on the top 5 percent of the housing market in each city -- lend support to anecdotal evidence of a slowdown in Vancouver’s luxury segment after the hike of a tax on foreign buyers to 20 percent from 15 percent in February, the introduction of a speculation tax, and rising interest rates..."https://www.bloomberg.com/news/articles ... -performer