House sales fell 26 per cent in the Toronto region in May, 2017 after the Ontario government’s introduction of a foreign-buyer’s tax as many potential purchasers stepped back and waited to assess the market impact. In the 30 days after the province of Ontario announced the immediate introduction of a 15 -per-cent foreign-buyer’s tax on April 20, […]
foreign buyer tax
Lack of homes to drive Toronto prices in 2017
A lack of homes for sale ought to be able to drive Toronto’s sizzling housing market to another year of double-digit price increases, the city’s real estate board told Tuesday. The Toronto Real Estate Board said the average price for all types of housing is forecast to rise to about $825,000 — up from […]
Surging sale of $1-million-plus Toronto homes urging calls for new measures
Sales of single-family detached homes commanding prices of at the least$ 1-million have almost doubled in 2017 in the Greater Toronto Area, as economists elevate the spectre of a real estate bubble. The GTA produced 2,876 sale of detached properties of $ 1-million or more in January and February in 2017, compared with 1,548 […]
More housing are needed, just not a tax on foreign home buyers
Housing prices in Toronto went through the roof long before governments started toying with a levy on foreign property buyers. While attractive for politicians, whose first have responded to any problem is to tax it, the above issues has been decades in the making, matching a chronic absence of housing supply to ever-increasing demand, […]
The problems of runaway house prices in Toronto
We need the facts about the extent to which foreign buyers are driving up real estate prices in Toronto. It’s time for the federal and provincial governments to collect the necessary data on the sale of housing to foreign-based buyers. Without reliable data and figures, it’s impossible to set policy, protect the dream of […]