In Conversation with Premier David Eby: On Housing, Affordability, and BC’s Road Ahead

As British Columbia navigates a shifting economic landscape marked by global uncertainty, rising costs, and rapid population growth, Premier David Eby is focused on strategies that aim to strengthen housing access, bolster infrastructure, and ease financial pressure on British Columbians. In this in-depth conversation, the Premier discusses his government’s approach to short-term rentals in light of Vancouver hosting the FIFA World Cup, the rationale behind foreign buyer restrictions, what’s being done about the canceled grocery rebate, and progress on the long-awaited hospital in Surrey. From rental reform to immigration targets, here’s what the Premier had to say in a wide-ranging discussion. 

Q: With summer coming and Vancouver being the host city for the FIFA World Cup next year, you are considering revisiting short-term rental regulations. Is there a timeline on this? 

Premier Eby: Our goal with rental housing is to have a healthy rental market, which means a vacancy rate of 3% or higher. That kind of rate ensures both landlords can rent their places and tenants can find housing. Right now, most communities haven't hit that mark. So until they do, we’ll keep short-term rental restrictions in place. But these measures are not meant to be permanent—they’re in place to protect rental housing stock during a time of shortage. 

We’re building a lot of rental housing and are optimistic about working with a strong federal partner to increase that pace. I understand these restrictions may put pressure on people visiting the city during major events like FIFA. But our priority is the people who live and work here—the same people who’ll be running the food stands and organizing the tournament. 

There’s no set timeline, but rather a target: once a community hits that 3% vacancy rate, the legislation allows them to opt out of the restrictions. In the meantime, I encourage British Columbians to explore local travel. There are many great places to stay in B.C., and a lot of tourism-dependent communities aren't affected by the short-term rental rules. 
 

Q: Do you think we should relax restrictions on foreign buying when it comes to real estate, especially in light of tariffs and the current stock market volatility? 

Premier Eby: It’s an important conversation. The initial motivation behind foreign buyer restrictions, including the federal ban and our vacancy tax, was to stop homes from being bought and left empty purely as investment properties. 

Now, the real challenge facing our industry is the need for capital to build housing—whether it’s rentals or homes for sale. So, we’re exploring ways to allow capital, including foreign capital, to come into our market without driving up costs for British Columbians or reducing housing availability. 

One innovative model is being tested on the old RCMP Heather Lands site in Vancouver. Government holds the first mortgage, and the buyer holds the second. This brings down the cost of purchase by about 30%. If successful, we believe this model can attract private capital while still making housing affordable. This is actually how Singapore built much of its housing stock. 

We’re looking to replicate this with private partnerships once it’s proven to work. Similarly, we're encouraging foreign investment in purpose-built rental housing—again, with the condition that it adds to supply and affordability. These kinds of creative solutions are necessary given the pressure our growing population is placing on housing supply. 

Q: Is there a timeline on the Heather Lands project you mentioned? 

Premier Eby: Yes, the first phase of that project is going to market in the coming months. If the model works—and we believe it will—we’ll move quickly to scale it with private sector involvement.

Q: Your government has scrapped the $1,000 grocery rebate that British Columbians were expecting on March 31st. What measures are you putting in place now to help with affordability? 

Premier Eby: That rebate was a one-time measure we had planned during the election, before we saw some significant economic developments—particularly changes in the U.S. that impacted our economy. We had to make the tough decision to pause that initiative to ensure our budget had the flexibility to respond to threats and opportunities. 

One of those opportunities came with the federal government's shift on carbon tax rules. That allowed us to eliminate the carbon tax for both individuals and businesses in B.C.—a more enduring form of support. 

Beyond that, we’re accelerating 18 major infrastructure projects to grow our economy. That growth will give us space to introduce more affordability measures over time. For example, ICBC had a larger-than-expected surplus, and we returned some of that to drivers through rebates. 

We’re focused on long-term, sustainable affordability—changes that support people not just once, but over the long haul. 

Q: You once called ICBC a "dumpster fire." Where do things stand now? Are there further changes on the horizon? 

Premier Eby: We’ve made major reforms to ICBC over the past 4–5 years, and we’re now in a much better place. Rates have been flat for three consecutive years, and B.C. drivers enjoy some of the lowest rates and best benefits in Canada. That said, no system is perfect. Some groups were impacted in ways we didn’t anticipate. 

We committed to a full review, and that’s happening this year under Public Safety Minister Gary Begg. The review will gather public feedback to assess what’s working and what needs tweaking. Our aim is to ensure we maintain affordable insurance while also offering strong support to people when they’re involved in collisions. 

Q: During the leadership of the late Premier John Horgan, Surrey was promised a new hospital. Yet, residents haven’t seen much progress. Is Surrey still getting a new hospital? 

Premier Eby: Yes, absolutely. The new hospital is well under construction. In addition, there’s a new renal care center going up at the Surrey Memorial Hospital, and we’re working on the business plan for a new tower there as well. 

But one of the most exciting developments is the new medical school that will be opening soon. It will train new doctors and medical professionals right here in the South Fraser region, which is critical for relieving pressure on emergency services. 

We’ve also added more than 140 doctors at Surrey Memorial to address immediate capacity concerns. Still, I’ll be honest—I’m not satisfied with the pace of improvement in health care delivery south of the Fraser. That’s why we changed the leadership at Fraser Health Authority. Everyone in B.C. deserves high-quality care, and Surrey is no exception. 

Q: When will the new Surrey hospital be operational? 

Premier Eby: We’re still a couple of years out from having it fully built, staffed, and ready to serve patients. But interim measures are already in place to address the urgent needs of the community while construction continues. 

Q: There’s been a noticeable drop in immigration through the Provincial Nominee Program. You requested 11,000 immigrants, but B.C. received only 4,000. How concerned are you about this, particularly in terms of how Canada’s image is perceived globally? 

Premier Eby: It's deeply concerning. British Columbia needs skilled immigrants, and our Provincial Nominee Program is critical for targeting workers who are ready to contribute immediately—nurses, tradespeople, tech professionals. 

To request 11,000 and receive fewer than 4,000 sends the wrong message internationally, especially to skilled immigrants who are making decisions about where to go. It creates uncertainty and undermines confidence in Canada as a destination. 

We’re in constant dialogue with the federal government to correct this. The needs of provinces have to be taken seriously, particularly when it comes to building our workforce and sustaining economic growth. We need a system that reflects those realities.