The board is releasing new research Tuesday showing fewer than 5 per cent of the 113,133 residential real estate transactions in the Toronto region last year involved foreign buyers. Don't blame overseas investors for the high price of housing in the Toronto area, says the Toronto Real Estate Board (TREB). The data suggests that a foreign buyer tax such as the 15 per cent implemented in Vancouver last summer would be misguided, says TREB. A similar tax here could have "unintended consequences" — potentially pushing up prices in communities outside the Toronto area where there is no such tax. The cost of a home in the Toronto region is expected to rise substantially — between 10 and 16 per cent — again this year.

Source: thestar January 31, 2017 12:00 UTC