B.C. NDP Leader David Eby announced that if re-elected, his government would introduce a tax on new, unsold condominiums and increase the province's speculation and vacancy fees. The announcement was made during the 2024 provincial election campaign.
Eby cited a report from Real Property Data that he described as "damning," estimating thousands of unsold units worth $4.4 billion sitting empty. The report's figures have not been independently verified by this publication.
The proposed measures are part of the NDP's broader housing affordability platform, which includes measures to increase the supply of affordable homes and curb speculative investment in the real estate market.
Details on the specific tax rate and implementation timeline have not been fully outlined. The opposition BC United and BC Conservatives have criticized the plan, arguing it could discourage new construction and ultimately raise costs for renters and buyers.
