Would real estate prices in Toronto drop further because of the foreign buyer ban?
Автор: CondoWong
Загружено: 2022-12-22
Просмотров: 2980
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Starting January 1, 2023, any non-Canadians and non-permanent residents will be banned from buying residential properties in Canada for a period of 2 years.
The ban was initially announced 8 months ago, in early April 2022.
That was when the market was going up like 20, 30% per year.
So the ban was one of the government’s responses to all the affordability complaints.
It was meant to cool the housing market.
Of course, the government didn’t predict a roller coaster ride on the housing market.
The market is already very cool before the ban even comes into effect.
Is the ban going to make things worse and bring prices down further?
#foreignbuyerban
#torontorealestate
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