B.C. NDP Proposes New Tax on Unsold Condos

British Columbia NDP Leader David Eby announced that his party intends to implement a new tax specifically targeting unsold condominiums. The proposal also includes an increase in the existing speculation and vacancy tax, aimed at improving housing affordability. This announcement comes during the first week of the snap election campaign leading up to the election on October 24.

about 1 month ago • 3 Canadian Sources Corroborated

During a campaign event in Victoria, British Columbia, NDP Leader David Eby unveiled a plan focused on addressing housing affordability in the province. A key component of this plan is a proposed new tax on unsold condominiums, which Eby believes will encourage developers to sell their inventory rather than leave homes vacant. Additionally, Eby proposed raising the existing speculation and vacancy fees to further deter property speculation and increase housing availability for residents. These measures are part of the NDP's platform as part of the upcoming election, scheduled for October 24, aiming to appeal to voters concerned about rising housing costs and scarcity. The announcement marks a strategic move as the NDP seeks to affirm its commitment to housing issues at a time when affordability has become a pressing concern in many regions of British Columbia.

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