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BC Budget Aimed At Helping Hard-Pressed Homebuyers

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.

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