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  Canada Immigration Forum > About Canada > Real Estate & Mortgages > 15% tax on home purchases by non-resident foreigners in GTA area...
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15% tax on home purchases by non-resident foreigners in GTA area...




Full House
Senior Desi
Member since: Oct 12




Posts: 2246
Location:


WHAT!! A cool million over the asking price! Yes it is in Toronto. (But the news is Two months old. Yes some time it takes that long to hit the newspaper columns.)

Even if we get into winter and into MINUS 40, it might not cool it much. It could just hit the asking price! Even that seems large.

Who gives a you know what.There are sellers and then there are RICH buyers too. That is Toronto and that is Canada.

Good things grow in Ontarioooo. So does money on treehouses.


FH.
http://www.blogto.com/city/2017/04/sold-toronto-townhouse-sells-1-million-over-asking/


 
Post ID: 235434 28-06-17 23:14:41
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Blue_Peafowl
Senior Desi
Member since: Dec 08




Posts: 1318
Location: Brampton, Ont, Canada


Believe it or not give it some time, by 2019 housing price will drop in huge percentage ...

Again: keep your own house but start selling your investment properties...

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'Some goals are so worthy, it's glorious even to fail.' (Param Vir Chakra awardee Lt. Manoj Pandey)

 
Post ID: 235438 29-06-17 08:54:01
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Full House
Senior Desi
Member since: Oct 12




Posts: 2246
Location:




This is from the yesterdays news. The markets are still holding good as the rich gobble up the high priced real estate. Call it by any name, they are moving the markets before the Bank of Canada rate increase.

Just for your information. Worthy of note.


FH.
"People are looking for an alternative to single family homes," Henderson said. He calls them "right sizers": people who are "moving from very large format homes to a smaller environment where they don't have as much maintenance."

Henderson says the people who are part of this trend are not only first-time buyers interested in centrally-located apartments with a view but also baby boomers with lots of equity who are looking to downsize.

http://www.cbc.ca/news/canada/toronto/luxury-real-estate-toronto-record-breaking-1.4199273

OTTAWAThe Bank of Canada has hiked its benchmark interest rate to 0.75 per cent from 0.5 per cent, its first increase in nearly seven years, amid expectations of stronger economic growth this year.

https://www.thestar.com/business/2017/07/12/bank-of-canada-hikes-interest-rate-to-075-for-first-time-in-7-years.html


 
Post ID: 235556 12-07-17 14:56:19
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Blue_Peafowl
Senior Desi
Member since: Dec 08




Posts: 1318
Location: Brampton, Ont, Canada


Sorry earlier i told my opinion regarding real estat crash to 50%...

I was wrong :) :) :)

i got inforamtion about interest rate increased , which was right but reason was wrong.

I didn't know that the increase is to payoff our so called Mr. Omar Khadr's Jihadi Jackpot :) :) :) :) :)

Y ? Trudeau Y ? - just ask us to donate and we will happily give our hard earn money to your mr. Favorite Omar. But don't hurt our home owners , BECHARE ABHI ABHI GHHAR LEKE DREAM MAIN JI RAHE THEE... APANE SUBKA DIL TOD DIYA


Humase haath felake bhikh mang lete... hum apake mr. Omar ko khushi khusi pesse de dete...

-----------------------------------------------------------------
'Some goals are so worthy, it's glorious even to fail.' (Param Vir Chakra awardee Lt. Manoj Pandey)

 
Post ID: 235567 13-07-17 12:38:49
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Blue_Peafowl(5)  Confused_Canadian(2)  Delhite(2)  febpreet(3)  Fido(1)  Full House(3)  luckysaab(3)  
rajcanada(1)  RBO(4)  
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