Province Launches Fair Housing Strategy

Posted on Thursday, April 20, 2017 14:29 PM

The Ontario government is moving to cool down a red-hot real estate market in the Toronto area.

Premier Kathleen Wynne has announced a 16 point Fair Housing Strategy.

She says one of the key recommendations is a new tax for people who don't live in the province.

"This 15 percent Speculation Tax will apply to people who are not Canadian citizens, not permanent residents or Canadian corporations, when they buy residential properties in the Greater Golden Horseshoe."

Wynne also says they will be putting rent controls on all private rental properties to keep rent increases at the cost of
living.