All Reports are Courtesy of: 
Balance returns to recreational property markets across Canada this year, says RE/MAX
Mississauga, ON (June 10, 2008) -- After an extended period of extraordinary growth, more balanced market conditions have emerged in recreational property markets across the country, according to a report released today by RE/MAX. Full report details at www.remax-oa.com!
 Residential real estate markets across Canada post solid gains over past decade, says RE/MAX
(February 21, 2008) - Pent-up demand, population growth, tight inventory levels, and the longest economic expansion since World War II collectively fueled one of the best decades on record for residential real estate in Canada, according to a report released today by RE/MAX. Full report details at www.remax-oa.com!
Condominium appreciation outpaces single-detached housing values in key GTA districts in 2007, says RE/MAX
Mississauga, Ontario (January 23, 2008) – Condominiums experienced unprecedented upward pressure on average price in 2007, surpassing gains reported in the single-detached category for the first time in key GTA districts, including the central core and west end. Full report details at www.remax-oa.com!
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Capital: Toronto
Motto: Ut Inceptit Fedelis Sic Permanet (Loyal it began, loyal it remains)
Flower: White Trillium
Population, 1998: 11,404,750
The Land
The name "Ontario" comes from the Iroquois word "Kanadario" meaning "sparkling water." The name is fitting: not only is Ontario bordered on the south by the Great Lakes and on the north by Hudson Bay, but 177 390 km2, or one sixth of its terrain, is covered by rivers and lakes. Ontario is larger than Spain and France combined. The province has a landmass of 1,068,580 sq km and is the 2nd largest province in Canada. At its greatest extremity Ontario is 690 km in width. the longest distance north/south is 1,730 km. The highest point, at 693 m above sea level, is in the District of Timiskaming, near Lady Evelyn Smoothwater Provincial Park.
The People
With over 11 million people, Ontario is the country's most heavily populated province. While English is the official language, Ontario's Francophones play an essential part in the province's cultural life. The provincial government provides services in French in those regions where the Francophone population is sufficiently high.
 Economy
Ontario is Canada's most productive province, generating some 40 percent of the country's gross domestic product (GDP). Its manufacturing industries lead the way. Ontario's competitive advantages include its natural resources, modern transportation system, large, well-educated labour force, reliable and relatively inexpensive electrical power, and proximity to key U.S. markets: less than a day's drive puts Ontario's products within reach of 120 million American consumers. Automobiles are Ontario's major manufacturing industry and most important export, employing more than 140 000 people. Motor vehicles, parts and accessories accounted for 37% of Canada's total exports in 1998.
*Columbia Encyclopedia, Sixth Edition, Copyright (c) 2003. | |
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Province Expands Provincial Land Transfer Tax Rebate
December 13, 2007 -- The provincial government has announced that it is expanding the PROVINCIAL land transfer tax rebate for first-time buyers to include re-sale housing, something which REALTORS® have lobbied for.
Details
First-time buyers of BOTH re-sale, and newly constructed homes, will be eligible for a rebate of the provincial land transfer tax of up to $2,000.
Effective for first-time buyers who enter into Agreements of Purchase and Sale AFTER December 13, 2007.
This change is being implemented by provincial legislation introduced on December 13, 2007. The Ministry of Finance has indicated that, until the legislation is passed, first-time buyers of re-sale properties eligible for the rebate can submit their applications for the refund and they will be processed once the legislation has passed. It is not known when the legislation will be passed. Buyers can consult with their lawyers if they have concerns.
The provincial land transfer tax rebate applies in all Ontario municipalities. In Toronto, the provincial rebate is in addition to City rebates of the Toronto Land Transfer Tax.
Further information is available by calling:
Ministry of Finance
905-433-6361
1-800-263-7965
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