Province to tax foreign buyers of Metro Vancouver homes

​Legislation introduced today creates new measures to help make home ownership more affordable, establishes a fund for market housing and rental initiatives, strengthens consumer protection, and gives the City of Vancouver the tools it requested to increase rental property supply.

​The B.C. government introduced legislation Monday that would add a 15 per cent property transfer tax on foreign nationals buying real estate in Metro Vancouver.
The new rules would take effect Aug. 2 and apply to purchases of homes in Metro Vancouver, excluding the treaty lands of the Tsawwassen First Nation.