victoria-bc

    While this new legislation has been announced since October 2023, it does not officially take effect until May 2024. A significant policy shift is reshaping the real estate and tourism landscapes: the ban on short-term rentals. While aimed at stabilizing the housing market, this move poses profound implications for the bustling tourism sector in Victoria, BC, a city renowned for its captivating beauty and vibrant culture. The Context of the Ban on Short-Term Rentals. British Columbia’s decision to restrict short-term rentals comes amidst growing concerns about housing affordability and availability. In cities like Victoria, where the real estate market is particularly tight, this policy aims to return properties to the long-term rental market, making housing more accessible for local residents. However, the ban’s ripple effects extend far beyond the real estate sector, particularly impacting Victoria’s tourism industry. Tourism in Victoria: A Delicate Balance Vic...