Whistler

The Whistler market saw little change in listing inventory from August to September, with 352 active listings in September compared to 351 in August. Sales edged down slightly across the four main market segments, potentially reflecting the limited number of new listings coming to market and fewer fresh opportunities for buyers.

 As we move toward the seasonal shift from summer visitors to the event-filled fall season, with Thanksgiving and the addition of the inaugural Whistler Outdoor Festival, Cornucopia, and the Whistler Film Festival, and of course, snow and the anticipation of opening day, more interest in real estate will follow from buyers looking for a special and unique Whistler property.

Pemberton

When comparing August to September for the Pemberton market, the data displayed a typical pattern for this time of year. Listings remained virtually unchanged, down by one total listing in September. Townhomes and vacant land each dropped by two listings, while chalets with acreage were up by one, and condos saw two additional properties come to market. Sales followed the same trend, with total volume down by one sale from August to September.

The later start to the school year in September, combined with the continued summer-like weather, may have kept both sellers and buyers in summer mode, which in Pemberton tends to produce a slower market. As fall settles in, the market typically experiences renewed activity.

The WREC Management Team

*excluding parking stalls

Thinking about buying a mountain home in Whistler or Pemberton as an international buyer? There’s an important tax distinction you need to know.

B.C.’s Additional Property Transfer Tax (APT) charges certain foreign buyers an additional 20% on their proportionate share of residential property in specific areas of the province.

But here’s the good news:

Whistler & Pemberton are outside the prescribed areas

The current 20% Additional Property Transfer Tax applies to residential properties in:

• Capital Regional District

• Regional District of Central Okanagan

• Fraser Valley Regional District

• Regional District of Nanaimo

Whistler and Pemberton are located in the Squamish-Lillooet Regional District, which is not currently one of these prescribed areas.

That means an eligible foreign buyer purchasing a residential property in Whistler or Pemberton does not currently pay the additional 20% tax simply because they are a foreign buyer.

What about regular Property Transfer Tax?

The 20% additional tax is separate from B.C.’s regular Property Transfer Tax (PTT), which can still apply.

Current general PTT rates are:

• 1% on the first $200,000

• 2% on the portion from $200,000 to $2 million

• 3% on the portion above $2 million

For residential property over $3 million, an additional 2% applies to the portion above $3 million.

Why this matters for international buyers

A 20% tax can make a significant difference to the cost of purchasing property.

For example, a $1.5 million purchase in an area where the APT applies could mean $300,000 in additional tax, on top of regular PTT.

For international buyers comparing mountain destinations, the fact that this 20% Additional Property Transfer Tax does not currently apply in Whistler or Pemberton can be an important consideration.

Is buying in Whistler or Pemberton straightforward for every foreign buyer?

Not necessarily.

The Additional Property Transfer Tax is only one piece of the puzzle. Federal foreign-buyer restrictions, immigration status, financing, GST, ownership structure and rental regulations may also affect a purchase.

The rules can change, so always get current legal and tax advice before making a purchase.

Thinking about a Sea to Sky property?

If you're considering Whistler or Pemberton as a second home, investment or mountain getaway, I’d be happy to help you understand the market, available properties and the buying process.

Get in touch to start the conversation.

Ceri Williams

This article is for general information only and is not legal, tax or financial advice. Rules and regulations can change. Buyers should consult a qualified B.C. lawyer, accountant or tax professional regarding their individual circumstances.