Quick Answer: Toronto buyers face two land transfer taxes (provincial + municipal). Condos often trade $550K–$750K; detached in the 416 can exceed $1.5M–$2M+. On a $700,000 condo, budget ~$35K–$45K down (5% minimum) plus ~$20K–$28K in closing costs including MLTT.
Toronto is not one market
| Segment | 2026 ballpark |
|---|---|
| Downtown condo | $550K–$850K |
| Midtown townhouse | $900K–$1.2M |
| East York / Scarborough detached | $1.0M–$1.3M |
| Core detached | $1.5M+ |
Double land transfer tax
Properties within City of Toronto boundaries pay:
- Ontario LTT — progressive rates to 2.5%
- Toronto MLTT — mirror structure with separate first-time buyer rebate (up to $4,475)
Combined first-time rebates can reach ~$8,475 — see Ontario + Toronto LTT guide.
Stress test still applies
Qualify at contract rate + 2% or 5.25% floor — use our mortgage stress test explainer.
Tools
Sources: City of Toronto MLTT, TRREB, CMHC — as of Q2 2026
ClickHomes AI Research Team
Real estate market research and analysis team at ClickHomes AI, covering Toronto and the Greater Toronto Area with daily TREB/MLS data insights.
