Category: Uncategorized

Downtown Toronto is facing a decline with 18% of offices sitting vacant in the first quarter of 2024. The city's office vacancy rate has been increasing due to new office buildings coming online and tenants reducing sublets. Future projections suggest a continued surplus of unoccupied office space until the 2040s. Continue to full article

Reduce rent increases: – Lower property tax hikes could help prevent landlords from passing on costs to renters. Protect vulnerable renters: – Policy could benefit those struggling with affordability by potentially keeping rents lower

Prospective renters in Toronto should be cautious when renting online, as two individuals shared their experiences of being scammed out of rental properties. They found listings on Rentals.ca, pre-paid rent, but never received keys or found someone else living in the unit. The platform now verifies landlords to prevent fraud. Continue to full article

Increase for high earners: After June 25, 2024, capital gains tax increases for profits exceeding $250,000.The $250,000 threshold applies to individuals, including gains through partnerships or trusts.

Toronto was ranked as the 5th best place to live in Canada. It had the 3rd-highest house prices, averaging $14,933/sq m.

City of Toronto staff are facing complaints from residents who received hefty vacant home tax bills despite their properties being occupied. More than 60,000 people are upset about lack of communication regarding the declaration deadline. The City extended the deadline and waived late fees for affected individuals. Continue to full article

Mortgage rates have been rising, impacting homebuyers and sellers. The Federal Reserve's tight monetary policy has led to higher borrowing costs. Experts believe the election won't affect rates significantly. Homebuyers should focus on long-term goals and be prepared for potential rate fluctuations. Continue to full article

The Toronto Regional Real Estate Board's monthly report indicates an improvement in the Greater Toronto Area's housing market.Home sales through the MLS in February totaled 5,607, ↑ ~18% yearly.

Many Toronto homeowners are facing unexpected vacant home taxes due to a deadline to declare occupancy. The tax aims to address the housing crisis by penalizing empty properties. However, some homeowners who occupy or rent their homes are being wrongly taxed. The process to dispute the tax status involves a small administrative fee. Continue to…