Eby pledges tax on unsold condos and higher vacancy fees

B.C. NDP Leader David Eby says his party would introduce a new tax on finished but unsold condominiums and raise the province’s speculation and vacancy tax if reelected in the Oct. 24 snap election. Speaking at a campaign stop in Burnaby, Eby said the condo tax would target units that have remained empty for more than a year. He cited a report estimating thousands of unsold units in Metro Vancouver, saying the policy could help bring about 5,000 condos onto the market. Eby also said the speculation and vacancy tax would rise to 2 per cent for domestic owners and 5 per cent for foreign owners. He framed the proposal as part of a broader effort to improve housing affordability and pressure developers to sell empty units rather than wait for prices to rise.