PTT is Property Transfer Tax.  

 

PTT is paid each time a home is bought at a rate of 1% for the first $200,000 and 2% for the balance.  Which translate if you have a $500,000 home, the PTT will be around $8000 added extra cost to the home that you bought.

 

Home Sales is important as it generates jobs, in 2012 alone, homes sales generated 7009 jobs and 1.05 billion in local  economic activity.

 

The goal is to REDUCE PTT


Its time to reduce the burden in BC homebuying!  The property transfer tax has not been adjusted to reflect the housing market in 26 year.  In 1987, the BC government introduced the PTT which was known then as Property Purchase Tax, it was touted as a wealth tax that would discourage speculation at the high end of real estate market.

 

If you need more info regarding this, please send me an email...

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I have listed a new property at 1803 7371 WESTMINSTER HWY in Richmond.
Tremendous opportunity to own this amazing penthouse unit in Lotus by Cressey! Unit was upgraded (almost $10,000) withinstalled home entertainment system (Bose), & wireless internet system with video conferencing capabilities. NWcorner views of the Ocean, Mountains and Park. This 2 Bedrm & 2 Bath luxury suite with high end finishes also includes geothermal air conditioning system, 10' high ceilings and 340sf balcony space. Walk to Richmond Center, Minoru Park or relax on a 80' length indoor pool, steam room, swirl pool and fitness gym.
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Just finished uploading this beautiful PENTHOUSE condo in Lotus Bldg by Cressey.  Situated on the 18th floor, this magnificent unit comes with 2 side by side parking and a storage locker.  Unit has all the upgrades done, laminated floors on most areas, solid surfaces on all countertops....But most of all...BREATHTAKING VIEWS!!!  Come see for yourself this coming open house on May 11 & 12!!!

Address: 1803-7371 Westminster Hway, Richmond

 

See you there!!

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