The speculation tax has been named as one of the contributors to a slump in commercial real estate investment in Vancouver in 2018. Asian investments in Vancouver declined to less than $350 million from more than $1 billion in 2016 and 2017. According to government figures the tax brought in revenues of $115 million from 12,029 homeowners iduring a 15-months period in the 2018-2019 provincial fiscal yearwhich ended on March 31, 2019. 