Hasan Juma
@hasanjuma.bsky.social
Real estate agent & investor. Vancouverite. Posts about our city, current events, the Canucks, and housing (naturally).
Ultimately, this is a program that benefits both FTHB & developers...
But make no mistake, for those in the vulnerable situation of a pending closing & a challenging mortgage approval - this offers no lifeline.
And you could argue, these are the buyers that needed it the most.
But make no mistake, for those in the vulnerable situation of a pending closing & a challenging mortgage approval - this offers no lifeline.
And you could argue, these are the buyers that needed it the most.
May 30, 2025 at 9:54 PM
Ultimately, this is a program that benefits both FTHB & developers...
But make no mistake, for those in the vulnerable situation of a pending closing & a challenging mortgage approval - this offers no lifeline.
And you could argue, these are the buyers that needed it the most.
But make no mistake, for those in the vulnerable situation of a pending closing & a challenging mortgage approval - this offers no lifeline.
And you could argue, these are the buyers that needed it the most.
The amount of “shadow inventory” held by developers continues to grow - new homes that are completed, but unsold.
All of these homes (up to $1.5M) will benefit from the GST relief program.
Winner: The developers urgently needing to move off of their existing new inventory.
All of these homes (up to $1.5M) will benefit from the GST relief program.
Winner: The developers urgently needing to move off of their existing new inventory.
May 30, 2025 at 9:54 PM
The amount of “shadow inventory” held by developers continues to grow - new homes that are completed, but unsold.
All of these homes (up to $1.5M) will benefit from the GST relief program.
Winner: The developers urgently needing to move off of their existing new inventory.
All of these homes (up to $1.5M) will benefit from the GST relief program.
Winner: The developers urgently needing to move off of their existing new inventory.
But what about contracts entered into prior to May 27th? Certainly some GST relief, no?
Nope.
Meaning your already firm presale contract offers you no relief from the 5% tax.
Loser: Those FTHB nearing completion on a presale and struggling to close.
Nope.
Meaning your already firm presale contract offers you no relief from the 5% tax.
Loser: Those FTHB nearing completion on a presale and struggling to close.
May 30, 2025 at 9:54 PM
But what about contracts entered into prior to May 27th? Certainly some GST relief, no?
Nope.
Meaning your already firm presale contract offers you no relief from the 5% tax.
Loser: Those FTHB nearing completion on a presale and struggling to close.
Nope.
Meaning your already firm presale contract offers you no relief from the 5% tax.
Loser: Those FTHB nearing completion on a presale and struggling to close.
Firstly, the GST Relief is for FTHB who “enter into” contracts on May 27th, 2025 & dates moving forward.
Paired with the new home PTT exemption, buyers could save almost $70K in taxes on a $1M purchase.
Winner: Those planning to purchase a new construction property this year.
Paired with the new home PTT exemption, buyers could save almost $70K in taxes on a $1M purchase.
Winner: Those planning to purchase a new construction property this year.
May 30, 2025 at 9:54 PM
Firstly, the GST Relief is for FTHB who “enter into” contracts on May 27th, 2025 & dates moving forward.
Paired with the new home PTT exemption, buyers could save almost $70K in taxes on a $1M purchase.
Winner: Those planning to purchase a new construction property this year.
Paired with the new home PTT exemption, buyers could save almost $70K in taxes on a $1M purchase.
Winner: Those planning to purchase a new construction property this year.