Housing Supply And Affordability
This article from REM magazine outlines the issues with housing supply and its affordability in Canada’s larger urban centres in the face of growing demand through immigration in the coming years.
Foreign Buyer Speculation Tax Increase
The Government of Ontario announced amendments to the Non-Resident Speculation Tax (NRST). The NRST applies to the transfer of land that contains at least one and no more than six single family residences. The NRST applies to: Individuals who are not Canadian citizens or permanent residents of Canada Foreign corporations or taxable trustees. The NRST […]
State of Emergency & Real Estate
The State of Emergency does not significantly impact real estate, as it continues to be an essential service. Live/in-person public open houses are prohibited, but Realtors may continue to help clients sell and buy homes. Impacts on Real Estate Short-term rentals for recreational purposes are effectively closed. If a booking was made prior to January […]