A lack of homes for sale should be able to drive Toronto’s sizzling housing market to another time of double-digit price increases, the city’s Toronto 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 $730,472 […]
foreign buyer tax
Surging sale of $1 million-plus Toronto homes producing calls for new measures
Sales of single-family detached homes obtaining prices of at the least$ 1-million have almost doubled in 2017 in the Greater Toronto Area, as economists raise the possibility of a real estate bubble. The GTA recorded 2,876 sale of detached properties of $ 1-million or more in January and February, 2017, compared with 1,548 in […]
More houses are needed, may not be a tax on foreign property buyers
Housing prices in Toronto went through the roof long before governments started toying with a tax on foreign dwelling buyers. While attractive for politicians, whose first response to any problem is to tax it, this issue has been decades in the making, matching a chronic absence of housing supplying to ever-increasing demand, driving prices […]
The problems of runaway house prices in Toronto
We need the facts about the extent to which foreign customers are driving up real estate costs 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 facts and figures, it’s impossible to define policy, protect the dream of […]
Foreign buyers account for only 5 per cent of Toronto home sales in 2016
Don’t blame overseas investors for the prices of housing in the Toronto area, says the Toronto Real Estate Board (TREB). The board has announced the result of a new research indicating fewer than 5 per cent of the sales of the 113,133 residential real estate transactions in the Toronto region in 2016 involved foreign buyers. More […]
