In this episode, Adrian Trott and Ariel Kormendy dive into the details of Toronto’s Vacant Home Tax and its potential effects on homeowners, buyers, and the real estate market. We also discuss how the market might evolve in 2025, touching on the role of real estate training, market predictions, and broader economic trends. Tune in for an insightful conversation!
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0:16 – Intro: Recap on mortgage changes and 2025 market predictions
4:05 – Overview of Toronto’s Vacant Home Tax
5:54 – Tax increase from 1% to 3% and impact on rentals
10:28 – Does the tax meet its goal of reducing vacancies?
11:58 – What’s considered as “vacant”?
14:07 – Immigration number and housing startups
15:41 – Long-term market implications
18:13 – Immigration statistics
22:20 – Construction applications take more time to be processed for approval
30:01 – Outro/recap
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In 2011, Ariel Kormendy and Adrian Trott formed The Kormendy Trott Team, now often referred to as KT (thanks to our logo!). The foundation of KT is built on providing unmatched value and attention to detail in everything we do. From our ever-expanding, comprehensive list of exclusive services to our expertly trained team, you will receive the highest level of care throughout your entire real estate journey.
Originally a team of two in Milton, Ontario, the KT Team has grown into a large team of exceptional REALTORS®, a client-care department, and now includes KT media, KT Commercial and KT Property Management to provide our clients with a complete lineup of genuine, professional, and proven services across Halton Region, Peel Region and the surrounding Regions within the Greater Toronto Area.
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