The Toronto hous­ing mar­ket

The Washington Post - - ECONOMY & BUSINESS -

will get a new tax to fend off spec­u­la­tors and ex­panded rentin­crease pro­tec­tion as On­tario at­tempts to slow record homeprice growth. The mea­sures are meant to con­trol what some call a price bub­ble en­dan­ger­ing the broader econ­omy. The 15 per­cent levy will ap­ply to non-Cana­dian cit­i­zens, non­per­ma­nent res­i­dents and non-Cana­dian cor­po­ra­tions buying res­i­den­tial prop­er­ties con­tain­ing one to six units in the greater Toronto area, the On­tario gov­ern­ment said. Rent con­trol will be im­posed on build­ings con­structed af­ter 1991. COM­ING TODAY 10 a.m.: Ex­ist­ing-home sales.

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