Toronto's real estate market just keeps on soaring. Housing prices in Toronto, and across the GTA, seem to be at record highs, but it looks like the province will try to reign them in.
As the Toronto Star reports today, Ontario Premier Kathleen Wynne is expected to introduce a new 15 percent tax on foreign speculators, or those who aren't citizens or permanent residents. These buyers make up 5 percent of the current market.
According to the Star, this tax would come into effect in areas south of Barrie and west of Peterborough, including Toronto, Hamilton, Kitchener-Waterloo and Niagara.
Vancouver got a foreign buyers tax last year and it reportedly helped cool down the market there.
by Amy Grief via blogTO
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