The new city land transfer tax came into effect in early 2008 making many wonder if Toronto residential real estate could still be considered a good investment. The answer is simply yes as this new tax will not affect everyone. For example first-time home buyers can get a full refund of the tax up to $3,725. And some financial lending institutions are using the new tax on Toronto residential real estate as marketing tool by offering to pay it for buyers who are willing to lock-in for a five year mortgage. This has helped eased some of the concerns that this new initiative from the City would have a negative effect on Toronto residential real estate. So far the outlook for the real estate market in Toronto in the near future seems unchanged with healthy growth forecasted for the foreseeable future.
If you are looking for Toronto residential real estate the may begin your search here by using the property search below. If you have any questions regarding any real estate of interest to you or you would like more information about the Toronto residential real estate market please feel free to contact Lea Barclay for all of your real estate needs.
