Posted on March 6, 2024 by Shazia Umer

The Alberta government unveiled budget initiatives for 2024, including hikes in land title office registration fees in the spring. Individuals dealing with property acquisitions and mortgage registrations will see an increase in transaction expenses.Β 

Variable land title fees of $2 per $5,000 of property value and $1.50 per $5,000 of mortgage value will be replaced by a new Land Titles Registration Levy of $5 per $5,000 of value.

The province announced that the levy will increase by $553.50 to $955 for a $450,000 house purchase with a 10% down payment.

The Alberta government is keen to point out that, despite the sizable hike, registration fees in Alberta will still be much lower than in other jurisdictions. For instance, Alberta's new levy of $955 for a $450,000 home purchase is significantly less than that of British Columbia ($7156), Ontario ($5628), and Saskatchewan ($2,050).Β 

The Canadian Real Estate Association projects that typical home prices will increase by 8.8% in 2025, reaching $520,837 on average.

At Umer Law, our real estate lawyer has extensive expertise executing residential and commercial real estate transactions, residential mortgages and business financings, and navigating the Land Titles Office's regulations. We can assist you in comprehending every part of a real estate or mortgage transaction, including the fees. Please contact us if you have any inquiries about buying or selling property. For additional information, please visit our flat fee pricing page.