Hello, everyone. I provide you with Canada’s news headlines for real estate news for today.
Will this old city be Canada’s new foreign-homebuyer destination?
According to BuzzBuzz News,
Because Ontario is joining BC with its own foreign-homebuyer tax, will overseas investors move one province over to Montreal?
Desjardins Senior Economist Benoit P. Durocher mulled this question in a recent report, and two other top economists now suggest the levy, meant in part to cool the Greater Toronto Area’s housing market, will have some impact on Montreal real estate.
The detail is here.
Victoria looks to follow Vancouver on foreign-buyers tax
According to The Globe and Mail,
Victoria’s city council has asked the B.C. government to expand a foreign-buyers tax introduced last year in Vancouver to include the Victoria region.
Mayor Lisa Helps said the city does not want to target foreign buyers who come to live and work in Victoria, but would like to deter real estate speculators who are not residents.
The detail is here.
Canadians’ Confidence In Housing Hits Record High
According to Huffington Post Canada,
The experts are getting louder in their warnings that a housing bubble has formed in some parts of Canada, but Canadians don’t seem worried.
In fact, confidence in the housing market hit a record high in the latest weekly Bloomberg-Nanos index — even as respondents turned negative on their own personal finances.
The survey found 48.5 per cent of Canadians expect house prices to rise in the next six months, the highest level recorded in the survey since 2008. Fewer than 11 per cent expect to see house prices decrease.
The detail is here.
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Jethro Seymour, Toronto Real Estate Broker, Looking For Best Leaside Real Estate Listings? Contact Me!
Also published on Medium.
