BC’s Unsold Condo Tax: Supporting Housing Availability and Growth

A proposed tax would target about 5,000 vacant, unsold condos in Metro Vancouver, charging 2% of assessed value for units empty over a year, increasing by 1% each additional year. Estimates of unsold condos vary due to different construction stages included. Developers and experts warn the tax could lower prices short-term but cause delays and other issues. The policy's fate depends on the upcoming election.