PM, B.C. premier both say no to taxing foreign investors

Both the prime minister and premier of B.C. have both ruled out taxing foreign investors in a bid to curb rising house prices in Vancouver.

Stephen Harper said the Conservative government would not introduce the measure; he also spoke of concern at the level of household debt, including mortgages in some households. He also reiterated that he believes the housing market is stable.

Separately, Christy Clark said Thursday that, although the provincial government is considering how affordability can be tackled in B.C., it will not introduce a new tax on foreign ownership.

A petition on Change.org now has 18,000 supporters calling for foreign investment in Vancouver real estate to be restricted.

With first-time buyers struggling to get a foot on the ladder Clark told CBC News that the government is “open to new ideas."

Read more about foreign ownership in Canadian real estate

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Industry news

Submit a press release

Poll

Do you invest in commercial properties?