Everyone deserves a safe and affordable place to call home. Now in its third year, the Speculation and Vacancy Tax (SVT) is raising significant revenue that goes directly into affordable housing in the five regions where the tax applies, while encouraging owners to rent or sell vacant units to those who need them.

To better protect consumers in B.C.’s real estate market, the Province is introducing legislation that requires cooling off periods for resale properties and newly built homes.

The B.C. government will be extending the deadline for pre-existing owners to file with the Land Owner Transparency Registry, giving reporting bodies with an interest in land more time to file a transparency report without incurring penalties.

Beginning Aug. 1, 2021, people buying or selling property will benefit from more efficient and co-ordinated regulation as BC Financial Services Authority will become the sole regulator for B.C.’s financial services sector, including real estate.

British Columbians are encouraged to share what is important to people, businesses and communities in B.C.’s Budget 2022, as the province moves further into economic recovery and looks toward a pandemic-free future.

The Government of British Columbia is undertaking consultations on possible legislation to address the non-consensual distribution of intimate images, also known as image abuse or “revenge porn”.  

Transparency information on interest holders of B.C. real estate is available for public search in the Land Owner Transparency Registry, giving law enforcement and tax authorities a significant tool to combat money laundering in the real estate market.