+34
BC NDP Leader David Eby says his government would introduce a tax on unsold condos and raise the speculation and vacancy tax if re-elected on Oct. 24 to improve housing affordability.
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. Eby made the announcement at a campaign stop in Burnaby, B.C., with a condo complex under construction behind him.
The new tax would apply to finished units that have been left empty for more than a year. It would have a starting rate of two per cent and increase by one per cent for each additional year the units remained unsold.
Eby says the plan could unlock about 5,000 condos. He says B.C. residents should not have to pay sky-high prices to rent or buy homes while developers sit on thousands of unfinished units and wait for prices to go up.
Speculation and Vacancy Tax Increase
The New Democrat leader also says his government would increase the existing speculation and vacancy tax to two per cent for domestic owners and to five per cent for foreign owners. The former NDP government brought in the tax in an effort to turn more vacant homes into housing and to ensure foreign owners or those with foreign income contributed fairly to B.C.’s tax system.
Housing Affordability Context in British Columbia
British Columbia has long faced some of the highest housing costs in Canada, particularly in Metro Vancouver. The provincial government has introduced various measures in recent years to cool the market and increase supply, including the speculation and vacancy tax and the foreign buyers tax.
Eby’s proposal targets unsold condominiums that developers may be holding off the market. By taxing these units, the NDP aims to encourage faster sales and increase available housing stock.
The announcement comes during the provincial election campaign, with housing affordability a central issue for voters. The election is scheduled for Oct. 24.
This report by Wolfgang Depner, The Canadian Press, was first published Sept. 25, 2026.
Please follow us on Google to support usDavid Eby BC NDP Housing Affordability Speculation And Vacancy Tax Unsold Condos Tax British Columbia Burnaby
Canada Latest News, Canada Headlines
Similar News: You can also read news stories similar to this one that we have collected from other news sources.
NDP's David Eby says some Opposition want the province as 'American protectorate'MAPLE RIDGE — New Democrat Leader David Eby says some members of the Conservative Opposition have a vision to make British Columbia a protectorate of the United States, and its leader isn't doing enough to rein them in.
Read more »
NDP's David Eby says some Opposition want the province as 'American…National Newswatch: Canada's most comprehensive site for political news and views.
Read more »
Buy Canadian campaign announcement made by David Eby at Lower Mainland stopBC NDP leader was at the IUOE 115 Training Centre Thursday morning, Sept. 24
Read more »
NDP's David Eby says some Conservatives want B.C. to be 'American…National Newswatch: Canada's most comprehensive site for political news and views.
Read more »