TREB recently spoke out against a Markham City Council motion that, if approved, would have called on the Provincial Government to implement a foreign buyer tax, similar to that implemented in British Columbia. As a result of TREB's actions, in part, a majority of Markham City Council voted against the motion, and it was NOT approved.
In a joint submission with the Ontario Real Estate Association, TREB provided valuable information to Markham City Council, which informed them of factual research, conducted by Ipsos Public Affairs, which showed that only an estimated 4.9% of GTA transactions, in which TREB Members acted on behalf of a buyer, involved a foreign purchaser.
