Liberal candidate campaigning on housing affordability bought or sold at least 30 B.C. properties over the last decade
The Liberal candidate campaigning for Parliament on a promise to make housing more affordable has bought or sold at least 30 residential properties in the past decade, with roughly half of those being offloaded within 12 months of their purchase date.
Publicly available property records from B.C. Assessment, independently obtained and verified by CTV News, show Taleeb Noormohamed, who is seeking to reclaim the Vancouver Granville seat for the Liberals, waiting, in one case, as little as 107 days between his purchase and sale.
As part of the party’s election platform, Prime Minister Justin Trudeau has promised to slap an additional “anti-flipping” tax on speculators who buy and sell properties within the span of a year.
Data shows at least 14 of the properties Noormohamed owned and sold between 2011 and 2021, all located in Vancouver, North Vancouver, and West Vancouver, would fit that criteria.
One example is a two-bedroom loft in Vancouver West End that records show Noormohamed purchased in May 2018 for $800,000.
Those records show he held it for 217 days before selling it in December for $1,002,500, a price jump of over 25 per cent.
It’s unclear what type of improvements or renovations Noormohamed completed on that particular condo, or any of the others.
The candidate declined CTV News Vancouver's request for an interview and instead sent a statement, which said he was “fully committed to making housing more affordable across Canada.”
Noormohamed, a tech CEO who ran and lost to independent Jody Wilson-Raybould in the 2019 federal election, went on to write: “While I have had business activities improving homes, I have been consistent in my support for measures to make housing more affordable, and as the MP for Vancouver Granville, it will remain a priority.”
His campaign declined to answer further questions about the purpose behind Noormohamed’s property purchases or how much he personally profited from their sales.
Noormohamed’s most recent sales include a two-bedroom condo near Science World he held for 202 days, before selling it in Feb. 2021 for 15 per cent more than the purchase price.
Records show he also sold a six-bedroom, four-bath home in West Vancouver in January for $3,175,000, a jump of 32 per cent over the purchase price.
In that case, publicly available data shows the property was purchased more than three years earlier, in September 2017.
The Vancouver Granville candidate for the NDP, which was circulating its own list of Noormohamed’s property sales history to reporters on Monday, called the practice “predatory."
“The fact that what Taleeb Noormohamed did was legal is part of the problem,” Vancouver Granville NDP candidate Anjali Appadurai said.
“And that’s part of what the NDP is committed to crack down on in closing those tax loopholes.”
Appadurai pointed out to reporters that she is a renter, and in the years Noormohamed has bought and sold dozens of residential property, she hasn’t owned any.
“Housing is a human right and homes are for living in,” Appadurai said.
”The current system is broken because money begets money and it’s us working people who pay the price,” she added
The Conservative candidate, Kailin Che, called it “extremely hypocritical of this Trudeau Liberal candidate to have taken part in the practice of flipping homes while Justin Trudeau is campaigning against it.”
“If elected, a Conservative government will introduce policies that will increase supply, sell government-owned real estate, and make housing a more attainable goal for individuals and families,” Che added.
According to records, Noormohamed currently owns five properties in B.C., all in the city of Vancouver, and purchased between 2015 and 2021.
CTVNews.ca Top Stories
Canadian gov't proposes new foreign influence registry as part of wide-spanning new bill
Prime Minister Justin Trudeau's government is proposing a suite of new measures and law changes aimed at countering foreign interference in Canada, amid extensive scrutiny over past meddling attempts and an ever-evolving threat landscape.
Boeing Starliner capsule's first crewed test flight postponed
The long-awaited first crewed test flight of Boeing's new Starliner space capsule was called off for at least 24 hours over a technical issue that launch teams were unable to resolve in time for the planned Monday night lift-off.
Teacher charged in historical sexual assault of Calgary teenage girl
Calgary police have charged a teacher with the alleged sexual assault of a teenage girl more than 20 years ago.
Winnipeg man admits to killing four women, argues he's not criminally responsible
Defence lawyers of Jeremy Skibicki have admitted in court the accused killed four Indigenous women, but argues he is not criminally responsible for the deaths by way of mental disorder – this latest development has triggered a judge-alone trial rather than a jury trial.
Man banned from owning animals after fatal Calgary dog attack
The owner of three Calgary dogs that got loose and mauled a woman to death in 2022 has been ordered to pay a $15,000 fine within one year and banned from owning any animal for 15 years.
East-end Ottawa family dealing with massive rat infestation
Residents in Ottawa’s Elmridge Gardens complex are dealing with a rat infestation that just won’t go away. Now, after doing everything they can to try to fix the issue, they are pleading with the city to step in and help.
Mediterranean staple may lower your risk of death from dementia, study finds
A daily spoonful of olive oil could lower your risk of dying from dementia, according to a new study by Harvard scientists.
An El Nino-less summer is coming. Here's what that could mean for Canada
As Canadians brace themselves for summer temperatures, forecasters say a weakening El Nino cycle doesn’t mean relief from the heat.
Newfoundland and Labrador latest province to tighten rules on Airbnbs
Newfoundland and Labrador is the latest jurisdiction to bring in stricter rules for short-term rentals, with a coming set of regulations that will force operators to register with the provincial government.