How to Buy Property in Toronto There’s no foreign buyers’ tax, but there are other taxes to consider Toronto, a diverse and cosmopolitan city, is popular with buyers from all over the world. “Toronto is Canada’s largest city, with a well-deserved reputation for a high quality of living, low crime, generally favorable weather, vibrant arts and cultural institutions and a multitude of ethnically-diverse neighborhoods,” said Paul Johnston, a Toronto broker with Right at Home Realty.