Respondents In GTA In Support Of Foreign Buyer Tax
From the results of a poll conducted by Angus Reid, most of the residents in the Greater Toronto Area are in support of the endorsement of the tax on foreign buyers. The result was gathered from 77 per cent of respondents, with 40 per cent of them strongly agreeing to the idea of having a 15 per cent tax on foreign buyers implemented in the GTA like that of Vancouver. Those who were in supporting couldn’t even be discouraged by the phrase; “..regardless of how it might personally affect you..”
Most of the respondents do not agree with the fact that foreign buyers are the cause behind the increase in prices, although there is a high level of support coming from them. As a matter of fact, only a third of the respondents made mention that foreigners investing in the market are to be blamed.
Most said that the main drive force of increase in home prices might be that the GTA is a desirable location, secondly, others said because of the low-interest rate and thirdly, few blamed it on foreign investors.
19 per cent blamed the unavailability of land, 20 per cent said it had to do with the decisions taken by the federal government and those in charge of making the rules, with majority 32 per cent noted investment from rich people. It turned out to be only 13 per cent who were of the opinion that homeowners leaving their homes vacant was a cause in the increase of home price in the GTA.