The back story
Buying in Toronto: Rosedale, the condos and the rules for foreign buyers
Rosedale’s ravine houses, Forest Hill, the Annex and the condominium towers of Yorkville and the waterfront, and the federal, Ontario and City rules a foreign buyer must know first.
Photo Credit
Image courtesy of © SimonP · CC BY-SA 3.0 via Wikimedia CommonsToronto’s property market divides into the old houses of the leafy streets north of downtown, Rosedale, Forest Hill and the Annex, and the condominium towers that have changed the skyline of Yorkville, the Entertainment District and the waterfront. For anyone who is not a Canadian citizen or permanent resident, three layers of rules apply before any of that: the federal prohibition on non-Canadians buying residential property, Ontario’s Non-Resident Speculation Tax, and the City of Toronto’s own land transfer taxes and Vacant Home Tax. We never publish prices; this is a guide to the rules and the neighbourhoods.
The federal rule
The Prohibition on the Purchase of Residential Property by Non-Canadians Act bars most non-Canadians from buying residential property in Canada; the Government of Canada extended it to 1 January 2027 (Department of Finance, February 2024). Check its status at the time you buy.
Ontario
Ontario charges Land Transfer Tax on every purchase, and its Non-Resident Speculation Tax, at 25% since 25 October 2022, applies province-wide to residential property bought by foreign nationals, foreign corporations and taxable trustees (ontario.ca).
The City
Toronto adds its own Municipal Land Transfer Tax and a Municipal Non-Resident Speculation Tax; in December 2025 the City introduced graduated rates for high-value homes. Its Vacant Home Tax, 3% of a property’s assessed value since the 2024 taxation year, requires owners to declare each year whether a home is occupied (toronto.ca).
Take advice from an Ontario real-estate lawyer before you sign anything.
Neighbourhoods
See our property guide for Rosedale, Forest Hill, Yorkville, the Annex, Leslieville and the waterfront.
Our advice: ask your lawyer to confirm which of the three layers applies to you before you make an offer.
Why it's on our list
- The federal rule
- Ontario
- The City
- Neighbourhoods
Location
The map comes from Google Maps, which sets its own cookies once it loads.
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