Toronto market “especially worrisome,” economist says
Provincial Finance Minister Charles Sousa is “keenly aware” of how quickly house prices have risen over the past year in the GTA
Much of the increase stemmed from single detached homes started in urban areas in Ontario
This country has the priciest housing market in the world and, as a result, the risk of a price fall in overvalued markets, such as Vancouver’s, has risen
An increase in multiple-dwelling projects offset a decline in single-detached construction, CMHC says
Details of regulations still being worked out, Finance Ministry says
Government data shows there was a steep drop in real estate transactions in the Vancouver area last summer after the tax was introduced
The threshold will increase by a third this year, to include properties with an assessed value of up to $1.6 million
Municipalities issued $7.8 billion worth of building permits in November, StatsCan reports
The program that starts next month applies to homes with a maximum value of $750,000