How to buy a home on the Toronto Islands

Owning a home on Toronto Islands offers lower prices and property taxes due to regulations under the Toronto Islands Residential Community Stewardship Act. Homes are priced based on construction costs, ranging from $50,000 to $700,000, with average prices between $150,000 and $400,000. Buyers must join the limited Purchasers’ List, open for applications only every two years, to be eligible. Homes must be primary residences, with limited rentals allowed.