{"id":365,"date":"2016-09-02T19:01:59","date_gmt":"2016-09-02T23:01:59","guid":{"rendered":"http:\/\/www.juliafreeman.ca\/blog\/?p=365"},"modified":"2016-09-02T19:01:59","modified_gmt":"2016-09-02T23:01:59","slug":"tax-shows-no-sign-of-slowing-luxury-condo-market-as-bosas-cardero-project-sets-new-high-price","status":"publish","type":"post","link":"https:\/\/www.juliafreeman.ca\/blog\/2016\/09\/tax-shows-no-sign-of-slowing-luxury-condo-market-as-bosas-cardero-project-sets-new-high-price\/","title":{"rendered":"Tax shows no sign of slowing luxury condo market as Bosa&#8217;s Cardero project sets new high price"},"content":{"rendered":"<p><strong>Vancouver\u2019s real-estate transfer tax for foreign buyers doesn\u2019t appear to have slowed the market for high-end, high-rise properties.<\/strong><\/p>\n<p>In May, the Holborn Group said it had hit a new high price for a project in Canada when it sold all 214 luxury condos at its Trump International Hotel and Tower Vancouver at an average of $1,615 per square foot \u2014 but now Bosa Properties has claimed the record, with more than 100 of the 116 units at its Cardero development in Coal Harbour pre-selling in the $1,750-per-square-foot range.<\/p>\n<p>It comes just weeks after the B.C. government brought in a new 15-per-cent property transfer tax for non-Canadian buyers of residential real estate in Metro Vancouver in a bid to dampen the hot market.<\/p>\n<p><strong>There appeared to be little concern over the tax at the first pre-sale of new condo units since the levy was introduced.<\/strong> Bosa began marketing its luxury Cardero project, which is slated for completion in late 2019, on Aug. 20.<\/p>\n<p><strong>The launch coincided with heated debate about what the immediate and long-term impact of the foreign buyer tax might be on blistering home prices<\/strong>. There have been some initial signs of a significant slow down in the percentage of sales in some Metro areas compared to last year, along with examples of price cutting.<\/p>\n<p>To read the complete article click\u00a0<strong><a href=\"http:\/\/vancouversun.com\/business\/real-estate\/tax-shows-no-sign-of-slowing-luxury-condo-market-as-bosas-cardero-project-sets-new-high-price\" target=\"_blank\">here<\/a>.<\/strong><\/p>\n<p style=\"text-align: right;\">Credit The Vancouver Sun<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver\u2019s real-estate transfer tax for foreign buyers doesn\u2019t appear to have slowed the market for high-end, high-rise properties. In May, the Holborn Group said it had hit a new high &hellip; [<a href=\"https:\/\/www.juliafreeman.ca\/blog\/2016\/09\/tax-shows-no-sign-of-slowing-luxury-condo-market-as-bosas-cardero-project-sets-new-high-price\/\">read more<\/a>]<\/p>\n","protected":false},"author":2,"featured_media":369,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"_links":{"self":[{"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts\/365"}],"collection":[{"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/comments?post=365"}],"version-history":[{"count":3,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts\/365\/revisions"}],"predecessor-version":[{"id":370,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts\/365\/revisions\/370"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/media\/369"}],"wp:attachment":[{"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/media?parent=365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/categories?post=365"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/tags?post=365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}