foreign buyer tax
The government is looking for ways to finance $25 billion in new spending to support those hit hard by the pandemic.
The Liberals say the changes will help address affordability concerns.
The provincial Liberals are calling it a win.
"Chinese buyers still appreciate Canada."
One year after the foreign buyer tax came in, prices are up 8 per cent.
Spring has sprung, and while spring season is normally an occasion to celebrate, with days growing longer, weather getting warmer and real estate heading into busy season, everything feels a little different this year. Canada's real estate markets are dealing with myriad of issues.
Ontario's government said "no" to a foreign buyer tax last year. Then prices soared 27.7 per cent.
The tax creates an "arbitrary" division between citizens and permanent residents, lawsuit argues.
Frank Wu said Chinese investors have told him that the tax is discouraging them from buying property in the city.
GTA house prices have doubled in eight years.