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Toronto has implemented a new vacant property tax in an effort to address the issue of empty homes and buildings in the city. The tax, which went into effect in 2022, is intended to encourage property owners to put their unused or underutilized properties back into the housing market. Other cities in the GTHA have also considered implementing a similar tax.
The tax is based on the value of the property and is applied to residential properties that have been vacant for more than six ...read more
In an effort to address rising housing prices and a lack of affordability for Canadians, the Canadian government has implemented a new foreign buyer property ban. The ban, which takes effect January 1, 2023, is intended to limit the impact of foreign buyers on the housing market. The ban is currently in place for two years and applies to residential properties (or residential zoned land) that are located in a census metropolitan area or a census agglomeration.
Under the new policy, ...read more
