During the conversation conducted in Arabic, Rola Hamdan and Rania Bou Nassif discussed:

• The welcome tax reimbursement can be up to $5,875.

• There are conditions to be eligible for this reimbursement including that the property purchased must not exceed $1 million and the applicant must not have owned a property in the last four years.

• The initiative was launched to alleviate the costs associated with buying a first home.

• The financial assistance does not address the biggest problem facing buyers: the low supply of affordable properties, whilst wage growth in Canada is not keeping pace with rising prices.

• Ultimately, it is financial assistance designed to facilitate entry into the property market, but not access to property itself.
  This type of assistance may have an impact on property prices. By stimulating demand and being perceived as a ‘solution’ to rising prices, it may contribute to keeping prices high.

• According to estimates by the Quebec government, this initiative will help 38,000 people who are about to buy a property.

• Unfortunately, it does not offer support to those for whom access is currently impossible, such as low-income tenants.

For more details on eligibility criteria, access and the expected effects of this programme, see our guide.