Hello, everyone. I provide you with Canada’s news headlines for real estate news for today.
Ontario urging Ottawa to change tax rules to curb real estate speculation
According to The Globe and Mail,
Ontario Finance Minister Charles Sousa is urging Ottawa to address speculative investing in the country’s housing markets by changing how such profits are taxed.
Currently, a capital gains tax is charged on 50 per cent of the profits on the sale of a home unless the property qualifies for a principal residence exemption.
The detail is here.
Value of commercial real estate sales in B.C. increased by 47% in 2016
According to CBC,
A shortage of land and a growing economy fuelled a 47-per-cent surge in the value of commercial real estate sales across British Columbia’s Lower Mainland in 2016, says the head of the region’s real estate board.
The detail is here.
Beware the Danger of Buying Toronto Real Estate
According to Baystreet.ca,
Several of Canada’s top banks have come out on record saying Toronto is officially in a real estate bubble, and recent Canada Mortgage and Housing Corporation default insurance changes were specifically made to throw cold water on the Toronto market. Next could be a tax targeting foreign buyers, a move that already weakened Vancouver’s frothy market.
The detail is here.
Toronto Midtown (Davisville, Leaside & Bennington Heights) Neighborhood News
Here are the latest local neighbourhood news
- Davisville Village Sales Statistics – November 2016
- Leaside & Bennington Heights Sales Statistics – November 2016
- Toronto Midtown Community Corner – December 2016
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Jethro Seymour, Toronto Real Estate Broker, Looking For Best Leaside Real Estate Listings? Contact Me!
Also published on Medium.
