The parties' promises on Home purchases and ownership

This is a page from the 2023 Prince Edward Island general election.

Home purchases and ownership platforms

Here's what the 2023 PEI election parties are promising.

Create a programme to provide first-time home buyers with up to $2,500 for closing costs
Launch a rent-to-own programme offering opportunities to purchase a home after renting it for 24 months
Provide up to $3,500/year to assist low-income homeowners with essential upgrades and maintenance

"Launch a low-income home repair grant to provide up to $3,500 per year to assist low-income homeowners with essential upgrades and maintenance" — With You. For You., 2023-03-24
Create opportunities for tiny home communities in rural PEI

"Create opportunities for tiny home communities in rural PEI where Islanders can purchase and build equity instead of paying rent" — With You. For You., 2023-03-24

Create a flipping and vacant homes tax
End blind bidding
Review the Down Payment Assistance Program

"A Green government would review the Down Payment Assistance Program to ensure that Islanders can use it to purchase housing in the community of choice, recognizing that the cost of housing varies from community to community." — peigreens.ca backgrounder, 2023-03-20
Appoint a commissioner to make recommendations on restricting housing speculation

"The Lands Protection Act is Island legislation used to protect land through ownership limits to ensure the ownership of land is not concentrated in the hands of the few. A Green government would pursue a Lands-Protection-Act-styled regulation of housing to ensure homes are available and accessible to Islanders and not controlled by investors who never intend to live in them. A Green government would also appoint an independent commissioner to consult with the public on the design of such regulation, and provide recommendations to government on how best to implement it." — peigreens.ca backgrounder, 2023-03-20

Provide an interest-reducing subsidy on $200K of a mortgage, up to $4K/year for 5 years, for families with an income of $95K or less

"Support first-time homebuyers with an OwnFirst program whereby families with an income of $95,000 or less can get an interest-reducing subsidy on the first $200,000 of their mortgage of up to $4000 per year for a period of 5 years" — Healthcare First: An Action Plan for Islanders, 2023-03-22

We don't have any NDP policies on Home purchases and ownership.