Property Transfer Tax Increased in Toronto | Vancouver vs. Toronto Property Transfer Tax Comparison | Matt Gul
Posted on Jan 04, 2024
Luxury home buyers in Toronto will now face a substantial increase in municipal land transfer taxes, with rates escalating based on property values.
Effective Monday, the tax hike primarily impacts properties exceeding C$3 million (US$2.2 million), potentially causing a temporary slowdown in the city's luxury real estate market. This move, approved...
How much is my property worth? | BC Assessment | 2024 | Matt Gul
Posted on Dec 31, 2023
BC Assessments are estimated as of July 1st every year, and then your annual assessment notice is provided in January. The assessments are based on values determined on July 1 of 2023, and are compared to the same time period from the year before. It will announce your property's assessed value based on the market value...
Canada's Foreign Buyers Ban: A Misstep in Housing Affordability?
Posted on Dec 28, 2023
In 2022, the Canadian government introduced a significant policy aimed at addressing the nation's housing affordability crisis: the Prohibition on the Purchase of Residential Property by Non-Canadians Act. This two-year ban was designed to limit the ability of non-citizens and foreign-controlled companies to invest in Canadian real estate, with the...
