The Prohibition on the Purchase of Residential Property by Non-Canadians Act prevents non-Canadians from buying residential property in Canada for 2 years starting on January 1, 2023. The Government of Canada has passed a new law to help make homes more affordable for people living in Canada. The Prohibition on the Purchase of Residential Property by Non-Canadians Act prevents non-Canadians and corporations controlled by non-Canadians from purchasing... [read more]

The City of Toronto is reminding all homeowners to submit a declaration of their property’s 2022 occupancy status by Thursday, February 2 to determine if the property is subject to the new Vacant Home Tax. A property is considered vacant if it is not the principal residence of the owner or any permitted occupants or was not occupied by tenants for at least six months during the previous calendar year or is otherwise deemed to be vacant under the bylaw. The tax is 1 per cent of the... [read more]

The number of homes for sale is continuing to grow compared to last year as time on market slows but home inventory is still below pre-pandemic levels. Larger annual declines seen previously in newly listed homes and pending home listings have started to moderate, and the decline in the median home list price growth rate has also moderated, potentially signalling lower but stabilizing housing market activity. Strong population growth based on record immigration and robust job creation across... [read more]

   Residential properties in Toronto that are unoccupied for more than six months (cumulative) in a calendar year, may be subject to the new City of Toronto's Vacant Home Tax (VHT), unless they meet one of the exemptions. The VHT was created to improve the supply of housing in the city. What You Need to Know A declaration form will need to be completed by property owners by February 2, 2023. A property is considered vacant if it is not the principal residence of the... [read more]

  Hello All and Happy Holidays! The market has shifted and not just anyone can help you successfully sell and buy. We have sold in every type of market and if you know how, this is a great time to move up. More Canadians see real estate as a solid long-term investment when compared to this time last year. Governments must collaborate to address supply challenges, to make home ownership feasible for those who want it. Amid rising interest rates, and a looming recession, there... [read more]