It would affect sales in and around the Greater Toronto and Hamilton Area, Niagara, Kitchener-Waterloo, and encompass everywhere north to Barrie and Orillia and east to Peterborough. A key plank in that would be the 15 per cent surcharge on offshore speculators, who are estimated to make up just 5 per cent of the current market. Premier Kathleen Wynne is slapping a 15 per cent “non-resident speculation” tax on foreign investors to help cool down southern Ontario’s scorching real estate market, the Star has learned. the interaction between the housing market in the Greater Golden Horseshoe and in Ottawa or London,” the premier said. Speaking in Ottawa on Wednesday, Wynne indicated there wouldn’t be a one-size-fits-all solution for real estate throughout Ontario.

Source: thestar April 20, 2017 09:56 UTC