Dual pricing again

[theguyfromanotherforum]

I really do apologize about starting a thread about this, but something caught my eye in Canadian news today.

Already there is a dual pricing system in Canada if you are a foreign student which I can "sort of" understand as schools are subsidized by the government.

However, in the latest tax grab, the city of Vancouver decided (due to the popular belief that Chinese nationals are driving prices of real estate up which is completely false as Canadians themselves are outbidding eachother), is adding an additional property sales tax of 15% to foreign nationals only.

Now, just imagine if Thailand introduced a 15% Farang tax on condo purchases and a 100,000 page revolt on Thai Visa. Surely, this would be considered racist?

Just a food for thought about our "first world" countries.

[anotheruser]

Imagine if Thailand added 15% tax and let you freehold in your own name. No BS, no awkward nominees, no Thai people involed and 15% tax was levied. You would find many more people buying in Thailand and there would be another real estate bubble.

[tifino]

Canada - if they didn't do it,the place gets overrun, and all the locals are priced out of the market there.

Farangs in Thailand - are just a small zit, having no detrimental effect on the locals

[theguyfromanotherforum]

Canada - if they didn't do it,the place gets overrun, and all the locals are priced out of the market there.

Farangs in Thailand - are just a small zit, having no detrimental effect on the locals

So, having a dual pricing in a first world country is ok, but not in a "developing" country?

[tifino]

well no, it's more how the system reacts to the extent of the respective buy-ups,

by people who aren't even going to live in the bought properties i.e. the Chinese investors

whether that be Houses/mansions,

Golf courses,

Farms for Primary Production.

[theguyfromanotherforum]

Sorry man, but if it wasn't for foreign money Canada would be third world. Regardless, there is already a land transfer tax and a property tax. The extra tax is a racist tax grab or some kind of a voter reward.

[CharlieH]

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