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B.C.’s Eby says NDP would tax new, unsold condos, raise speculation, vacancy fees
- On Friday, British Columbia NDP Leader David Eby announced plans for an Unsold Condo Tax and higher speculation levies during a campaign stop in Burnaby, targeting vacant finished units to improve housing affordability.
- Eby argued residents should not pay high costs while developers hold thousands of finished units; The Speculation Tax has already converted 20,000 empty units into homes for British Columbians.
- The new Unsold Condo Tax starts at 2% and increases 1% annually for units empty over one year. Real Property Data estimates these unsold units, including over 1,300 finished two years ago, are worth $4.45 billion.
- Additionally, the NDP plans to raise the speculation and vacancy tax to 2% for domestic owners and 5% for foreign owners, building on recent trends where starting rents in B.C. dropped over 10% in 26 months.
- Citing price increases driven by President Donald Trump's trade war, Eby contrasted his platform with the Conservatives, framing the October 24 election as a choice between lower housing costs and opposition policies.
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B.C.’s Eby says NDP would tax new, unsold condos, raise speculation, vacancy fees
VICTORIA — British Columbia NDP Leader David Eby says his government would introduce a new tax on unsold condominiums and hike the existing speculation and vacancy tax to improve housing affordability if his party is re-elected on Oct. 24. At a campai...
Winnipeg Free Press+3 Reposted by 3 other sources
B.C.'s Eby says NDP would tax new, unsold condos, raise speculation, vacancy fees
VICTORIA - British Columbia NDP Leader David Eby says his government would introduce a new tax on unsold condominiums and hike the existing speculation and vacancy tax to improve housing affordability if his party is re-elected on Oct. 24.
·Winnipeg, Canada
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Total News Sources5
Leaning Left3Leaning Right0Center2Last UpdatedBias Distribution60% Left
Bias Distribution
- 60% of the sources lean Left
60% Left
L 60%
C 40%
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