B.C. housing stakeholders concerned about affordability and supply are engaged in renewed debate over foreign capital in Canadian real estate amid an industry slowdown.
The question of whether to allow overseas investors to buy Canadian homes is dividing industry, government and academia, and there is little agreement on whether to scrap the national foreign buyer ban or B.C.’s foreign buyer tax.
The foreign buyer ban, formally the Prohibition on the Purchase of Residential Property by Non-Canadians Act, has been in force since 2023, while in B.C., additional property transfer taxes have been levied on some foreign entities since 2016.
Recent letters sent by B.C. stakeholders to government leaders have
→ Continue reading at BIV