Luxury Condos for Sale in Vancouver as Non-Resident Owners Balk at New Taxes

A tax on non-resident property owners is working as it's intended, as a wave of luxury condo units hit the real estate market all over the city of Vancouver.

1 minute read

August 24, 2019, 1:00 PM PDT

By James Brasuell @CasualBrasuell


British Columbia

EB Adventure Photography / Shutterstock

There's a glut of luxury condos on the market in Vancouver. The wave of luxury housing supply is credited by some market observers to non-resident owners selling pied-a-terres, "because they don’t want to pay vacancy taxes introduced by the city and the province."

"A good example is a 58th-floor condo at Trump Tower that is on the market for $5.88 million. Realtor Wendy Tian said her client is selling because of the vacancy and speculation taxes," reports John Mackie.

Another examples cited by Mackie:

Layla Yang of Dracco Pacific Realty is selling a 43rd–floor condo at Trump Tower for $3.98 million. She also says the vacancy and speculation taxes are spurring people to sell.

In most of the buildings mentioned in the article, units are available for sale at more than twice the typical rate, according to Mackie.

Meanwhile, according to Mackie, prices have dropped downtown, and some of the units are having a hard time selling. 

Friday, August 23, 2019 in The Province

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Cover CM Credits, Earn Certificates, Push Your Career Forward

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

July 9, 2025 - Diana Ionescu

Green vintage Chicago streetcar from the 1940s parked at the Illinois Railroad Museum in 1988.

Chicago’s Ghost Rails

Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.

July 13, 2025 - WTTV

Aerial view of downtown San Antonio, Texas at night with rotating Tower of the Americas in foreground.

San Antonio and Austin are Fusing Into one Massive Megaregion

The region spanning the two central Texas cities is growing fast, posing challenges for local infrastructure and water supplies.

July 3, 2025 - Governing

White park shuttles with large Zion logo on side and red rock cliffs in background in Zion National Park.

Since Zion's Shuttles Went Electric “The Smog is Gone”

Visitors to Zion National Park can enjoy the canyon via the nation’s first fully electric park shuttle system.

3 hours ago - Reasons to Be Cheerful

Chart of federal transportation funding comparing Biden and Trump administration spending.

Trump Distributing DOT Safety Funds at 1/10 Rate of Biden

Funds for Safe Streets and other transportation safety and equity programs are being held up by administrative reviews and conflicts with the Trump administration’s priorities.

4 hours ago - Transportation for America

Close-up on yellow and black TAXI sign on top of beige car in central Munich, Germany.

German Cities Subsidize Taxis for Women Amid Wave of Violence

Free or low-cost taxi rides can help women navigate cities more safely, but critics say the programs don't address the root causes of violence against women.

5 hours ago - Bloomberg