An govt with a serious actual property company says demand for cottages and leisure properties in Nova Scotia ought to stay sturdy regardless of the doubling of the deed switch tax.
Matt Honsberger, president of the Halifax workplace of Royal LePage Atlantic, says he’s bullish on the actual property market as a result of most waterfront properties in Atlantic Canada, which might promote for below $500,000, are considerably cheaper than in different elements of the nation.
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Honsberger says that whereas the deed switch tax will certainly deter some consumers, others will issue it in as a part of the price of doing enterprise.
Nova Scotia’s 2025-26 finances will increase the deed switch tax for non-resident homebuyers to 10 per cent from 5 per cent as of April 1.
The Nova Scotia Affiliation of Realtors opposes the rise, saying the tax will drive potential consumers away to neighbouring provinces similar to New Brunswick.
However Royal LePage says in its spring leisure property report that it expects a busy season in Nova Scotia with decrease rates of interest boosting purchaser confidence.
This report by The Canadian Press was first printed March 28, 2025.
© 2025 The Canadian Press
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