Toronto City Council has passed new rules to crack down on short-term rental services such as Airbnb that will restrict listings to principal residences and ban homeowners from listing secondary suites such as basement apartments. The basement-apartment issue dominated what snowballed into a daylong debate at city hall. Banning them from short-term rentals was meant […]

With a sigh and hesitant pause, Jason Paris confides that in retrospect he wishes he’d done more research before putting down a deposit on the now-defunct Museum FLTS condominium project in Toronto’s trendy Junction Triangle area. The 43-year-old television production manager is one of hundreds of would-be homeowners who recently had their money returned and […]

PayPal has been ordered to provide the Canada Revenue Agency with information about its business account holders. The company says a Federal Court order requires it to supply information about business accounts that received or sent a payment between Jan. 1, 2014, and Nov. 10, 2017. It is not required to provide information about customers […]

More than 1,000 planned purpose-built rental units have instead been converted to condominiums in the Greater Toronto Area since Premier Kathleen Wynne’s government expanded rent control in the spring, according to a new report that warns the region’s rental supply crisis is poised to worsen. The report, which is to be released on Monday and was obtained […]

Intense competition means condos are being rented within 10 days of listing at average rents of $2,219 Ontario’s expanded rent control rules, in place since April, couldn’t stop a 10.3% hike in condo rents over the past year, according to a new study. Condo research firm Urbanation Inc. said Thursday the average index rent in the […]

Rental rush: pension funds flock to apartment buildings After the financial crisis battered the U.S. economy in 2008 and 2009, the real estate investing team at Quebec’s public-sector pension manager noticed an interesting trend in its portfolio of holdings. The Caisse de dépôt et placement du Québec owned a group of apartment buildings in New […]

A Federal Court judge has approved at least one court order that will require a British Columbia developer to turn over information to tax officials about people who bought and flipped condo units before or during construction. And several similar applications are under way, reflecting the federal government’s efforts to crack down on potential tax […]

Toronto’s real estate market is showing renewed strength, with bidding contests and bully offers making a resurgence after a torpid summer. David Fleming of Bosley Real Estate Ltd. was caught off guard when he took his clients to see a house in the Beaches area and soon learned that a bully offer had landed. “I didn’t think it would […]

Toronto’s roller-coaster real estate market took a swoop lower in August, the fourth-straight month that the average sales price in Canada’s largest city declined from a dizzying record high set in April. The Toronto Real Estate Board said Wednesday the average price for all home types in the Greater Toronto Area last month was $732,292, […]

Q: I bought a house in 2010 for $600,000 and lived in that house as my principal residence until 2013.  Then I bought and moved into another property. I rented out the first house and reported all income on my tax returns. In 2016, I sold the rental property for $900,000. When I file my […]

Some home sellers in Toronto are finding the buyers of their homes are trying to renegotiate the deals just days before closing. In this rapidly cooling real estate market, some buyers seem to be regretting how much they agreed to pay back in the hot spring sales season. In other cases, buyers aren’t able to […]

With recent price declines in Canada’s hot real estate markets, there’s been talk of a slowdown. But, so far, it’s hardly something for prospective buyers to get excited about.  While prices did drop after the introduction of a foreign homebuyers’ tax in Vancouver last year, they’re once again surging to new highs.  In Toronto, both […]

2017 has been a turbulent year for the Greater Toronto Area (GTA) housing market, with the Ontario government’s Fair Housing Plan ushering in a frenzied wave of transactions, now being followed by a steep decline in sales. Despite the turmoil, new figures released by the Toronto Real Estate Board (TREB) show that while overall home sales declined […]

Tim Cestnick July 21, 2017 Ever since the 2017 federal budget in March, when the government announced that tax changes affecting private corporations would be coming, I’ve been feeling queasy. Well, the proposed tax changes were announced by Bill Morneau, the Finance Minister, on Tuesday. And ugly they are. Here’s a primer on the potential […]

Royal LePage CEO Phil Soper says that, like a lot of chief executives, he is prone to optimism. But that didn’t stop him from calling Toronto the least healthy housing market in the country when prices were galloping ahead in the double digits in the first quarter of the year, peaking at 33 per cent year over year […]