BC Tax Measures Self Defeating - BCREA

The BC Real Estate Association (BCREA) is raising concerns following the release of British Columbia’s 2026 provincial budget.

February 18 2026 - In a statement issued February 18, the association said several housing-related tax measures could further challenge the development sector at a time when the province is working to increase housing supply.

BCREA pointed to higher school taxation rates on development lands, the application of PST to professional housing-related services, and an increase to the Speculation and Vacancy Tax to four per cent for foreign residents and others. The association said those measures would increase costs and could hinder project viability.

“There is unfortunately not a lot to like from either a macroeconomic or housing perspective in this budget,” said BCREA Chief Economist Brendon Ogmundson. “We understand that the province is in a difficult position and needs to raise revenues, but doing so on the back of an already struggling housing sector will ultimately prove to be self-defeating.”

The association also raised concerns about the province’s projected deficit and debt levels, saying the budget did not outline a clear path to stabilize the debt-to-GDP ratio.

BCREA is a professional association representing real estate boards and REALTORS® across British Columbia and provides housing market research and policy analysis.

The provincial government has said the 2026 budget addresses economic pressures while continuing investments in housing and public services.

BC Tax Measures Self Defeating - BCREA