3 in 4 British Columbians support banning foreign real estate buyers

More than three-in-four British Columbians are in favour of banning most foreign nationals from purchasing real estate in Canada, a new Research Co. poll has found.

78% of British Columbians support having legislation similar to the one currently in place in New Zealand, while 15% are opposed and 7% are undecided, the survey of a representative provincial sample found[1]https://researchco.ca/wp-content/uploads/2020/06/Tables_Housing_BC_18Jun2020.pdf.

New Zealand passed legislation that bans most foreigners from purchasing real estate in the country. There are exceptions for foreigners who hold residency status in New Zealand, as well as citizens from Australia and Singapore, due to existing free trade agreements.

“The notion of forbidding most foreigners from owning real estate in Canada is popular among all demographics in British Columbia,” Mario Canseco, President of Research Co., said. “The groups that voice the highest level of support for this change are residents of Vancouver Island (88%) and those aged 35-to-54 (also 88%).”

Public support for specific policies related to housing that were implemented by the current Government of British Columbia remains strong across the province.

Almost four-in-five British Columbians (79%) agree with the decisions to increase the foreign buyers tax from 15% to 20% and to expand the foreign buyers tax to areas located outside of Metro Vancouver.

Similarly high proportions of British Columbians agree with the implementation of the “speculation tax” in specific urban areas targeting foreign and domestic homeowners who pay little or no income tax in the province, and those who own second properties that are not long-term rentals (77%) and the introduction of a tax of 0.2% on the value of homes between $3 million and $4 million, and a tax rate of 0.4% on the portion of a home’s value that exceeds $4 million (76%).

More than seven-in-ten British Columbians (72%) agree with the decision to increase the property transfer tax from 3% to 5% for homes valued at more than $3 million. The 5% portion only applies to the value greater than $3 million.

Across the province, 57% of British Columbians think the actions of the current provincial government will be “effective”, in making housing more affordable—an eight-point increase since a similar Research Co. poll conducted in December 2019[2]https://researchco.ca/wp-content/uploads/2019/12/Tables_Housing_BC_03Jan2020.pdf.

More than seven-in-ten British Columbians who voted for the BC Green Party in the 2017 provincial election (72%) expect the actions of the provincial government to be effective in the area of housing affordability. This perception is more common among those who cast ballots for the BC Liberals (81%) and the BC New Democratic Party (NDP) (87%).

“The nativism is gross,” YIMBY group Abundant Housing Vancouver(AHV) director Jennifer Bradshaw tweeted when this topic came up for discussion last year. “Foreign funds are providing rental stock, so basically you’re saying that we need to help locals who are able to buy a home, over locals that are only able to rent a home.”

Bradshaw acted as the financial agent for Abundant Housing Vancouver (AHV) director Adrian Crook’s campaign for Vancouver city council, which was bankrolled by Vancouver’s real estate developers.

The Research Co. poll results are based on an online study conducted from June 13 to June 15, 2020, among 800 adults in British Columbia. The data has been statistically weighted according to Canadian census figures for age, gender and region in British Columbia. The margin of error—which measures sample variability—is +/- 3.5 percentage points, nineteen times out of twenty.

References   [ + ]

1. https://researchco.ca/wp-content/uploads/2020/06/Tables_Housing_BC_18Jun2020.pdf
2. https://researchco.ca/wp-content/uploads/2019/12/Tables_Housing_BC_03Jan2020.pdf

24 Responses to 3 in 4 British Columbians support banning foreign real estate buyers

  1. Jenny Chang says:

    Canada is racist.

    • Bob Loblaw says:

      This law makes no mention of race, only citizenship. It’s applied equally to all Canadians, and non-Canadians.

    • SL says:

      You are a United Front Work Department operative who has committed fraud by transferring $50.000 payments through your bank account for relatives. Any person fron China who has bought a house in Vancouver in the last 5 years is a criminal.

  2. Jake Barrow says:

    Nothing to do with race. All races are welcome! They just don’t want foreign millionaires (regardless of race) buying property and contributing the inflated cost of homes/properties.

  3. Jenny Chang's non-handicapped sibling says:

    Jenny Chang, not everything is about race right now.
    This would help the people currently inhabiting these areas to do crazy things like afford a home on less than a 6 to 7 figure salary. Unfortunately with foreign money flooding the markets and artificially inflating values of things like real estate, it forces the majority of people to attempt to live outside their means just to have a roof. The unfortunate ones who are not able to afford such rampant luxury are either relegated to homelessness or relocation.
    And before you say “people should just make more money if they want to live in these areas”, let me ask you who you expect to make your 1/2 soy 1/2 condensed milk latte every morning. Cities require workers at all levels, which requires living accommodations at all levels.

    But tell me again how this is racist. Go troll somewhere else you Walnut.

    • Non-Entitled Millenial says:

      Theres always the suburbs…
      I used to work in downtown Van but got a job in Abbotsford and couldn’t be more happy with my move

  4. Chris says:

    Im ABC, i dont want foreign anyone buying canadian properties.

  5. Phil says:

    More than 70 percent who voted for the Green Party? That is a pretty small sample size and shows the bias of the article.

  6. William Xi says:

    China has banned foreign buyers. Another reason why it is superior

    • Edward Chan says:

      You just admitted that China is a racist country and bans foreign buyers. As a Chinese, I know for a fact that foreigners (non-Chinese) with a Chinese spouse and living in China for many years cannot buy property in China because they are not considered to be Chinese nationals, nor could they get citizenship. Their children will never be accepted into Chinese society. If you don’t call that racial discrimination, then I don’t know what is anymore.

      Why does the CCP and its trolls care so much about B.C.’s real estate market? That is meddling in other countries’ affairs. Go mind your own business. The CCP are a bunch of hypocrites.

      • William Xi says:

        Without the chinese buyers your canadian real estate pyramid scheme will collapse. Hahahahah

        • Edward Chan says:

          William Xi or Mike J., are you retarded? You keep posting retarded comments like you’re mentally ill. Or maybe you have a malfunction in your programming?

          You are making a fool of yourself. You are an embarrassment to yourself, to your CCP overlords, to China and to all the Chinese people around the world.

          You are a fanatical, racist Sino-supremacist. And a very immature one on top of that! It’s embarrassing.

  7. William Xi says:

    Don’t you stupid Canadians realize that China is superior and soon enough you will bow down to us

    • William Xi says:

      Sooner you accept that the better for you

    • Edward Chan says:

      How do you know I’m Canadian? I told you many times I’m Chinese – I could be anywhere around the world (using a VPN)… including in China.

      You have managed to piss off not only Chinese-Canadians but ALL Chinese around the world who are against the CCP and their cult-like ideology of world domination.

      You just confirmed to everyone on this website that you are indeed a Sino-supremacist. In fact, you don’t even care about other Chinese people (unless they share your hateful Sino-supremacist ideology).

      If you think that the free Chinese people around the world will just kowtow to the CCP, you are naively mistaken.

      • William Xi says:

        You must be one of the hong Kong trouble makers then Haha

        Asking for handouts from the mainland and acting like a spoiled child haha

        • Edward Chan says:

          There are over 50 million of us outside Mainland China who don’t share your vile xenophobic fascist-communist ideology.

          The CCP doesn’t care about other Chinese people including the ones inside their country. They only care about themselves and protecting their (fake) image at all costs. That is the truth.

          Congratulations, the CCP has managed to unite the world against them.

      • Anonymous says:

        You’re right. The CCP is the enemy of humanity. Their obsession with sinosupremacy is a threat to the entire world.

  8. SL says:

    People from China are no longer welcome in Canada. They get punched in the face on the sidewalk.

  9. Mark says:

    it’s funny how everyone is for a tax they don;t have to pay… let’s do it like they did wayyy back in 2014 and say.. if you can’t afford to live here…. Move! It’s really that simple.

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