20 KEY CHANGES in BC Real Estate Since 2010

by | Sep 29, 2025 | Current Real Estate Trends and Updates, Mortgage Advice

…and Why a Mortgage Broker Matters

British Columbia’s real estate market has undergone dramatic transformation over the past 15 years. Since 2010, a series of new rules, taxes, zoning reforms, and consumer protections have reshaped not only how homes are bought and sold, but also how they are financed and lived in.

For both first-time buyers and seasoned investors, keeping up with these shifts can feel overwhelming. This is where the expertise of a mortgage broker becomes invaluable. My role is to help you understand what these changes mean for your financing, and to create strategies that align with your goals.

Here are 20 of the most significant real estate changes in BC since 2010—and why they matter.

1. Stricter Mortgage Down Payment Rules

  • 2010: A 20% minimum down payment was required for rental properties.

  • 2011: The maximum amortization for insured mortgages dropped from 35 to 30 years.

  • 2012: A 20% minimum down payment became mandatory for homes over $1 million.

2. Tiered Down Payment System Introduced

  • 2016: Buyers must put down 10% on the portion of a home’s price between $500,000 and $1 million. Borrowers with insured mortgages must also qualify at the higher “stress test” rate.

3. Strata Rental and Age Restrictions Reformed

  • 2022: Most rental restrictions in strata buildings were eliminated. Age restrictions are now limited to 55+ only.

4. Depreciation Reports Mandated

  • 2024: All strata corporations with five or more units must update depreciation reports every five years.

5. Foreign Buyer and Speculation Taxes

  • 2016: A 15% Foreign Buyer Tax was introduced, later increased to 20% in 2018.

  • 2018: The Speculation and Vacancy Tax was implemented in designated regions, including Metro Vancouver, Victoria, Kelowna, and Nanaimo.

6. Expanded Tax Zones

  • 2018, 2023, and 2024: Foreign Buyer and Speculation Tax zones were broadened to cover additional regions of BC.

7. Homebuyer Cooling-Off Period

  • 2023: A mandatory three-day rescission period was introduced, giving buyers time to review financing, inspections, and appraisals after an offer is accepted.

8. Home Flipping Tax

  • 2025: Properties sold within one year of purchase may face a provincial tax of up to 20% on profits, tapering to zero by year two.

9. Realtor Commission Structure Under Review

  • 2024–2025: Ongoing lawsuits and regulatory scrutiny are raising questions about how real estate commissions will be structured in the future.

10. End of Industry Self-Regulation

  • 2016: Oversight of real estate shifted from industry-led to government-supervised under the Real Estate Services Act.

11. Updated Real Estate Services Rules

  • 2021–2022: Licensing, brokerage relationships, and realtor conduct standards were revised to strengthen consumer protection.

12. BC Energy Step Code

  • 2017: New energy-efficiency requirements were introduced, with the goal of all new homes being net-zero ready by 2032.

13. Elimination of Single-Family Zoning

  • 2023–2024: Municipalities can no longer enforce single-family-only zoning. Multiplex and infill housing are now permitted in most urban areas.

14. Density and Parking Near Transit

  • 2023–2024: Provincial policies increased allowable density near transit hubs and removed minimum parking requirements.

15. Short-Term Rental Restrictions

  • 2023–2024: Many municipalities limited or banned short-term rentals such as Airbnb unless the unit is a principal residence.

16. Approval of Single-Stair Apartments

  • 2023–2024: Low-rise apartment buildings are now permitted to use single-staircase construction, reducing development costs.

17. Removal of Public Hearings for Code-Compliant Projects

  • 2023–2024: Developments that already comply with zoning and building codes no longer require public hearings, accelerating approval timelines.

18. Municipal Rental-Only Zoning Powers

  • 2018 and 2023: Municipalities were given authority to enforce rental-only zoning and monitor rental housing supply more closely.

19. Agricultural Land Reserve Housing Restrictions

  • 2018–2021: Principal dwellings on farmland were capped at 500 m², and secondary dwelling rules were tightened.

20. Online Resolution of Strata Disputes

  • 2016: The Civil Resolution Tribunal was granted authority to handle strata and small claims disputes online, streamlining conflict resolution.

Why Work with a Mortgage Broker

The last decade and a half of reforms in BC have not only influenced housing prices, but also redefined how buyers qualify for and secure financing. Here is how I help clients navigate these complexities:

Expert Guidance – I track every regulatory change, from flipping taxes to zoning reforms, and explain what matters for your financing.

Tailored Mortgage Solutions – Every buyer’s financial picture is unique. I match you with lenders and products suited to your needs, even as rules evolve.

Maximizing Affordability – From stress tests to amortization limits, I help structure your mortgage so that monthly payments work within your budget.

Advocacy – Whether you are buying your first home, moving up, or investing, I negotiate on your behalf and ensure your interests are protected.

Final Thoughts

Zoning reforms, new taxes, and changing lending rules have made real estate in BC more complex than ever. Having a mortgage broker by your side ensures that you are not navigating these shifts alone. You gain clarity, confidence, and access to the best possible financing strategies—so that every real estate decision is informed and strategic.

If you are considering buying or refinancing in today’s market, I would be happy to guide you through the current rules and help you plan for what lies ahead.

Thank you to Kelly Hudson ( Mortgage Architects) for compiling this list and article info.