B.C.’s Eby says NDP would tax new, unsold condos, raise speculation, vacancy fees

POLITICS B.C.’s Eby says NDP would tax new, unsold condos, raise speculation, vacancy fees By Wolfgang Depner The Canadian Press Posted September 25, 2026 5:25 pm 2 min read View image in full screen BC Premier David Eby, centre, makes an announcement on housing during a BC election campaign stop in Burnaby, BC., Friday, Sept. 25, 2026. Standing with Premier Eby are NDP candidates, from left, Rohani Arora, Jennifer Whiteside, Raj Chouhan and Janet Routledge. THE CANADIAN PRESS/Rich Lam. RXL LEAVE A COMMENT SHARE THIS ITEM ON FACEBOOK SHARE THIS ITEM ON X SEND THIS PAGE TO SOMEONE VIA EMAIL SEE MORE SHARING OPTIONS DESCREASE ARTICLE FONT SIZE INCREASE ARTICLE FONT SIZE A new tax on unsold condominiums was among the promises British Columbia NDP Leader David Eby made Friday in the first week of the snap election he called for Oct. 24. At a campaign stop in Burnaby, B.C., with a condo complex under construction behind him, Eby said his government would introduce the new tax and hike the existing speculation and vacancy tax to improve housing affordability if his party is re-elected. Eby said the condo tax would apply on finished units that have been left empty for more than a year. The leader pointed to what he said was a “damming” report from Real Property Data that estimates thousands of unsold units worth $4.4 billion currently sitting empty across Metro Vancouver. “They are brand new,” he said. “They are ready for people to move in. They have been built.” STORY CONTINUES BELOW ADVERTISEMENT The tax would have a starting rate of two per cent and increase by one per cent for each additional year the units remained unsold, a plan that could unlock about 5,000 condos, Eby said. Get daily Montreal news Get daily Montreal news delivered to your inbox so you'll never miss the day's top stories. SIGN UP FOR DAILY MONTREAL NEWSLETTER GET STARTED BY PROVIDING YOUR EMAIL ADDRESS, YOU HAVE READ AND AGREE TO GLOBAL NEWS' TERMS AND CONDITIONS AND PRIVACY POLICY. 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, he said. “We will intervene,” he said. “We will stand up for British Columbians, just like we stand up to (U.S. President Donald) Trump, stand up to developers. We will stand up for the families, who are struggling with affordability,” he added. 2:29 Video resurfaces of B.C. Conservative interim leader jumping in to help fight wildfire 5…