Canada's red-hot housing markets hint at cooldown as higher rates, inflation bite

'What we're going to stop seeing are the homes that sell for inexplicable amounts above their market values'

Toronto realtor member has noted a marked slowdown in housing demand in the red-hot Greater Toronto Area over the past few weeks, which she sees as a likely precursor to a reckoning in the suburbs and surrounding towns that have seen blistering price growth over the past two years.

“I had listings that, in January, would have had a 100+ showings,” a chief executive, said. “All of a sudden, we’re only getting five to six in four days. This is a transition period and it’s not for all markets or price points. But we’re seeing it.”

Already, homes listed for sale in supply-constrained Toronto have fallen at a slower pace than sales in February from a year earlier, compared with most of last year when listings lagged sales.
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Ontario to hike tax on foreign homebuyers while expanding it provincewide

The Ontario government is hiking its tax on foreign homebuyers ahead of a provincial election campaign where affordability is expected to be a key issue.

In a news release issued on Tuesday afternoon, the province confirmed it would increase its non-resident speculation tax from 15 to 20 per cent starting tomorrow.

The government said the tax would be expanded province-wide. Previously it only applied to properties purchased in the Greater Golden Horseshoe Region in southern Ontario.
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انتاریو مالیات بر خریداران خانه خارجی را افزایش می دهد و در عین حال آن را در سراسر استان گسترش می دهد

دولت انتاریو در آستانه کمپین انتخاباتی استانی که انتظار می‌رود مقرون به صرفه بودن یک مسئله کلیدی باشد، مالیات خود را بر خریداران خانه خارجی افزایش می‌دهد.

در بیانیه‌ای که بعدازظهر سه‌شنبه منتشر شد، این استان تأیید کرد که از فردا مالیات خریداران غیرمقیم را از ۱۵ به ۲۰ درصد افزایش می‌دهد.

دولت گفت که این مالیات در سراسر استان گسترش خواهد یافت. قبلاً فقط برای املاک خریداری شده در منطقه نعل اسب طلایی بزرگ (Greater Golden Horseshoe Region) در جنوب انتاریو اعمال می شد.
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