HALIFAX – An executive with a major real estate agency says demand for cottages and recreational properties in Nova Scotia should remain strong despite the doubling of the deed transfer tax.
Matt Honsberger, president of the Halifax office of Royal LePage Atlantic, says he’s bullish on the real estate market because most waterfront properties in Atlantic Canada, which can sell for under $500,000, are significantly cheaper than in other parts of the country.
Honsberger says that while the deed transfer tax will definitely deter some buyers, others will factor it in as part of the cost of doing business.
Nova Scotia’s 2025-26 budget increases the deed transfer tax for non-resident homebuyers to 10 per cent from five per cent as of April 1.
The Nova Scotia Association of Realtors opposes the increase, saying the tax will drive prospective buyers away to neighbouring provinces such as New Brunswick.
But Royal LePage says in its spring recreational property report that it expects a busy season in Nova Scotia with lower interest rates boosting buyer confidence.
This report by The Canadian Press was first published March 28, 2025.
