British Columbia Targets Empty Unsold Condos

A provincial leader proposed taxing unsold BC condos left empty for >1 yr, arguing the move would improve affordability if the party returned to power.
The proposed levy would have started near ~2% and climbed ~1% yearly for continued vacancies, with the campaign saying it could unlock ~5K condos.
A data firm estimated thousands of unsold, empty new units across Metro Vancouver were worth $4.4B, a figure used to support the affordability case.
Reaction was mixed: one expert questioned whether the measure would change behavior or raise revenue, while an industry economist warned about financially stressed developers.
The same platform also proposed raising BC's speculation and vacancy tax to ~2% for domestic owners and ~5% for foreign owners in eligible areas.