In Ontario, the Non-Resident Speculation Tax (also referred to as the NRST tax) targets foreign homebuyers. Essentially, this is a foreign buyers tax, with a tax rate of 15% on the purchase or acquisition of a residential property. The property in question must be located in the Golden Horseshoe area of Ontario. What’s important to […]
As university and college enrolment continues to grow across Canada, there’s also an emerging investment opportunity for student housing. Demand for off-campus student housing is clearly outstripping supply. And for landlords, the investment opportunity for student housing presents new horizons. Needless to say, large urban centres will be high demand centres for rental units.
Many realtors are predicting that Canada’s real estate boom will be slowing down in 2017, with predictions that the New Year will bring with it modest sales gains compared to years gone by. Even the Canadian Real Estate Association forecasts 2017 as the year when the home market will level off. And while Toronto and […]
The Bank of Canada’s recent move to drop its overnight lending interest rate by 0.25 per cent has many talking about its effect on the housing market. Soon after the drop was announced, Canada’s banks swiftly followed with prime lending rate cuts of 10 or 15 basis points which left rates at 2.7 per cent. […]
The city of Toronto set a new record for home sales in June. Last month, 11,992 homes were sold, which is an 18.4 per cent increase from the year before. The housing price for all the types of homes sold went up and the average selling price of a home within the GTA rose to […]
Economists have been sounding the alarm for years that Canada’s housing market is set to crash and that our debt levels are at a worse state compared to US residents before their housing crash. A recent report by CIBC says that Canada’s housing market isn’t comparable to the US situation since the amount of housing […]
