Toronto real estate market in 2011 will be stable

27.12.2010 19:06
Analysts predict that prices on the real estate market Canada's largest city will grow, but this growth is "not crazy". How to change the prices, the experts did not specify.

E Sinclair, head of the local real estate agents, warns against attachment who is seriously considering the possibility of earning on the sale of apartments in 2011. "As they say in sports, sometimes the best deals - the ones where you do not run", I'm sure the specialist.

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In this case, home buyers should bear in mind that Toronto is expected abolition of a tax - on the transfer of municipal land (MLTT), which is paid by the buyer in real estate transactions. For example, a house price of 500 thousand Canadian dollars was supposed to pay tax in the amount of 5,7 thousand Canadian dollars. To eliminate this tax has promised a new mayor before his election, said the city television station CTV.

E Sinclair advises customers not to wait until the mayor would fulfill its promise - in his view, during which time prices may rise by themselves and the savings from abolishing the tax can "come to nothing."

Another thing that may draw the attention of buyers of Canadian housing, this rise in interest rates on mortgages. Economist Will Dunning predicts that rates will rise in 2011 to 0,5%.
Content tags: Overseas property
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