this post was submitted on 06 May 2024
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In great Montreal area it's more and more enormous, condo 1000sqft+, thousands of them, that people cannot buy because they are too expensive, I don't understand the system
Yeah they built these big ass luxury condo towers downtown and most of them are empty. I know because I can see in them from my office building.
Some argue this allows richer people to move out of smaller units therefore freeing them for others. But instead you have international investors coming in to buy them up as a real tax haven. Or the rich will simply buy them but keep the old ones and rent them at a premium. It doesn't help at all.
You don't have a tax for owning "abandoned" housing (inhabited by noone)? There should be.
There's a tax for foreign ownership now,I think..
*cough* Maestria *cough*