Vancouver’s vacancy tax unlocks oodles of rental properties

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By Leith van Onselen

Back in 2016, Vancouver city council has voted to approve a tax on empty homes introduced a 1% tax on homes that are not principal residences or aren’t rented out for at least six months of the year, in response to a large number of homes reportedly being left vacant by overseas investors.

In March 2018, the provincial government announced a modified rate structure for the speculation and vacancy tax (SVT), which is based on the value of a residential property. Specifically:

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.