Taxing Empty Homes

Wonder if Australia would consider this, since the number of empty properties and vacant land I see in the SE suburbs of Melbourne. Would certainly help the rental market out.

 

http://www.theglobeandmail.com/real-estate/real-estate-video/video-vancouver-mayor-says-taxing-empty-homes-will-boost-rentals/article32155437/

 

Vancouver really appears to be looking at the investment market, local and foreign. Also with the recent tax they introduced to foreign buyers.

Wonder if Australia would consider this, since the number of empty properties and vacant land I see in the SE suburbs of Melbourne. Would certainly help the rental market out.

 

http://www.theglobeandmail.com/real-estate/real-estate-video/video-vancouver-mayor-says-taxing-empty-homes-will-boost-rentals/article32155437/

 

Vancouver really appears to be looking at the investment market, local and foreign. Also with the recent tax they introduced to foreign buyers.

funny, I just suggested this on another thread. It would help immensely. Buying and leaving a property empty only shrinks the market and helps to price out first time buyers. They should tax it the same amount that it could be let for, unless it is being renovated.

funny, I just suggested this on another thread. It would help immensely. Buying and leaving a property empty only shrinks the market and helps to price out first time buyers. They should tax it the same amount that it could be let for, unless it is being renovated.

 

haha spooky, no I think they should tax it higher if you plan not to rent it out, then provides an incentive to rent it. The Chinese are notorious for buying and then leaving empty, and then if they do want to rent will mainly only rent to Chinese. Well this is the case in Vancouver. Cannot comment on Australia, as not sure.

 

 

Since Vancouver introduced the foreign investment tax, they have already seen a downshift.

 

 

I have seen so many deprecated properties in my suburb, which are only fit now to be knocked down but people are off the mind set property... the only way is up!

 

 

Also the numerous vacant blocks, where they just knocked it down and leave it empty.

 

 

Or maybe propose the same scheme as China, no foreign investors! If china can buy here, free trade should mean we can invest in property there.

 

 

The government here, like many other western governments have too much invested in themselves to care about joe average and the future generations.

 

 

The only real bonus for the kids today is waiting for the parents to kit it and have the property due to inheritance. Sad state of affairs.