Vancouver plans to tax empty properties 1% of their assessed value

Re:Vancouver plans to tax empty properties 1% of their asses... by charlesdm on Thursday November 10, 2016 @06:11PM (#12925501)

I understand some cities have exuberant property values, for various reasons. Is it that great of a city? I've never been, but what makes Vancouver special to see such high value increases?

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Re:Vancouver plans to tax empty properties 1% of their asses... by cossatot on Thursday November 10, 2016 @06:17PM (#12925567)

Canada's housing bubble hasn't yet popped, and prices are high in many places.

Vancouver itself is attractive to investors because it has a very mild climate, is close to Seattle and the rest of the U.S. West Coast is a short flight, and it's much closer to Asia than the rest of Canada is.

It's also a very beautiful place with lots of amenities for those living there rather than overseas investors or occasional business travelers.

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Re:Vancouver plans to tax empty properties 1% of their asses... by jmschlmrs on Thursday November 10, 2016 @06:14PM (#12925533)

It's one of the nicest/only cities in the Pacific Rim, where Chinese investors seem to prefer to invest.

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Re:Vancouver plans to tax empty properties 1% of their asses... by huangc10 on Thursday November 10, 2016 @08:13PM (#12926476)

I grew up there and have since moved away but what I loved about it was just how calm, peaceful, and beautiful it was. I think I wouldn't want my kids to grow up anywhere else (if I can jump back in time to Vancouver in the mid 90s).

Vancouver also welcomed multiculturalism which helped a lot.

The city has since moved on (like all cities with time and technology) but I think many people still want that feeling of what it was like in the 90s. It was just a extremely nice place to start a family.

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