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David Eby, leader of British Columbia's NDP, announced a new tax on unsold condominiums during a campaign stop in Burnaby, B.C., aiming to address housing affordability issues by targeting units left empty for over a year. The tax would start at two percent and increase annually, potentially unlocking around 5,000 condos worth $4.4 billion across Metro Vancouver according to a report from Real Property Data. Additionally, Eby pledged to raise the existing speculation and vacancy taxes to two percent for domestic owners and five percent for foreign owners if his party is re-elected on October 24.
Written locally by qwen2.5:14b on 2026-09-25,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
British Columbia NDP Leader David Eby proposed new taxes during his election campaign aimed at improving housing affordability, particularly targeting unsold condominiums. At a campaign stop in Burnaby, B.C., Eby announced plans to introduce a tax on finished but unsold condo units left empty for over a year, starting with a rate of 2% and increasing by an additional 1% each subsequent year the unit remains unsold. The NDP leader cited a report estimating that thousands of unsold units worth $4.4 billion are currently sitting vacant across Metro Vancouver. Eby argues this policy will encourage developers to sell these properties at more affordable prices, addressing the urgent need for housing among families struggling with high rental and purchase costs.
Written for “BC Condo Tax Plan” on 2026-10-05,
grounded in this article and the 2 other(s) covering the same event.
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.
asserted
he → make → Oct.
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.
asserted
party → say → affordability
Eby said the condo tax would apply on finished units that have been left empty for more than a year.
asserted
that → say → 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.
asserted
that → point → Vancouver
“They are brand new,” he said.
asserted
he → say → ?
“They are ready for people to move in.
asserted
people → move → ?
They have been built.”
asserted
They → build → ?
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.
uncertain
Eby → have → condos
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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.
asserted
he → get → units
“We will intervene,” he said.
asserted
he → intervene → ?
“We will stand up for British Columbians, just like we stand up to (U.S. President Donald) Trump, stand up to developers.
asserted
we → stand → developers
We will stand up for the families, who are struggling with affordability,” he added.
asserted
he → stand → affordability
Friday’s announcement comes amid ongoing questions about a joint federal-provincial plan to purchase more than 2,220 vacant condominiums in B.C. to convert them into affordable housing.
asserted
announcement → come → housing
When the plan was announced in June alongside Prime Minister Mark Carney, Eby promised additional details in the fall, but that was before this week’s election call.
asserted
that → announce → call
The New Democrat leader also said 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.
asserted
government → say → 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.
asserted
owners → bring → system
The tax applies to municipalities in Metro Vancouver, the Capital Regional District in Greater Victoria and 26 other municipalities.
asserted
tax → apply → Victoria
When asked about opinion polls that shows his party trailing the Conservatives under their interim leader Lorne Doerkson, Eby said it was early days into the campaign.
asserted
it → ask → campaign
Doerkson and his B.C. Conservatives haven’t had an official campaign event since Tuesday, the day of the election call.
asserted
Doerkson → have → call
A party spokesperson said Doerkson has been doing interviews from his home riding of Cariboo-Chilcotin and was expected to be in the Lower Mainland Friday.
asserted
Doerkson → say → Mainland
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