Hello, everyone. I provide you with Canada’s news headlines for real estate news for today.
Montreal: The latest hotspot for Africa’s rulers to keep their wealth?
According to The Independent,
A new African Arguments investigation has found that politically-exposed African nationals hold Canadian real estate worth several millions of dollars.
The study, conducted in partnership with the Journal de Montréal and Le Monde Afrique, reveals over a dozen individuals who have invested nearly $26 million in Canadian real estate, often without a mortgage.
The detail is here.
Toronto-area home sales drop in May after province introduces foreign buyers’ tax
According to BNN,
Home sales in the Greater Toronto Area plunged 20.3 per cent last month compared with a year ago, according to the latest data from the country’s largest real estate board, a sign that recent efforts to cool the searing market are having the desired effect.
However, some economists and realtors say the impact of the measures, which include a 15 per cent tax on foreign buyers in the rapidly growing Greater Golden Horseshoe region, could be short-lived.
The detail is here.
Follow me on social media!
Jethro Seymour, Toronto Real Estate Broker, Looking For Best Leaside Real Estate Listings? Contact Me!
Also published on Medium.
