In 2018, we launched Homes for BC, government’s 10 year housing plan and the largest investment in housing affordability in B.C.’s history.
Here’s what we’ve been doing to moderate the market, crackdown on tax fraud, close loopholes, build the homes people need and make renting more secure.
Moderating the market
We are taking measures to moderate the housing market by taxing speculators and foreign buyers, and using the revenue collected to build housing.
Taxing speculators who are driving up housing costs to help turn empty units into homes for people
Increasing the foreign buyers taxand expanding its reach to more urban areas
New homes forpeople with low to middle incomes
the homes people need
With new government funding and partnerships with municipalities and housing groups, we are working towards delivering 114,000 homes for people living in B.C.
open or underway for very low-income earners(includes people experiencing homelessness)
open or underway for low-to-moderate income earners(annual incomes up to $74,000)
open or underway for middle-income earners (average annual incomes under $99,000)
More than 36,000 new homes are open or underway in more than 100 communities in B.C.
on tax fraud & closing loopholes
By cracking down on money laundering, stopping tax fraud, and closing loopholes, we are doing our part to make our real estate market fair for everyone.
Taking action to end hidden ownership through bare trusts and shell companies
Cracking down on pre-sale condo flipping
Combating “dirty money”laundered through BC real estate
Security for renters and
Making renting better for renters and landlords, and ensuring that growing families, aging seniors, and people living on low-to-moderate-incomes can afford rent in the communities where they live and work.
Cut the annualallowable rent increase by 2%
Making changes to protect rentersduring renovations and banning illegal renovictions
Families and seniorsare receiving more help to pay rent