News
BC Budget Aimed At Helping Hard-Pressed Homebuyers
February 17, 2016
BC’s budget, unveiled yesterday by Finance Minister Michael de Jong (pictured during last fall's economic update), features measures aimed at helping homebuyers and cooling the province’s piping-hot real estate markets. The budget includes a tax break that’ll save purchasers up to $13k in property transfer tax if they buy a new house, condo or townhome valued under $750k (offset by a 1% increase in property tax on high-end homes sold for over $2M). The budget also funds a plan to start collecting homebuyer data, a response to concerns about the role that foreign investors are playing in driving up the cost of BC real estate.
