CMHC REPORT - April 2016.
In recent years, the topic of foreign ownership has gained in importance as evidenced by the level of interest generated in the media. The general perception is that foreign buyers are key players whose actions could have significant implications for Canadian housing markets.
Despite a range of statistics suggested by various studies on the size of foreign ownership, available factual information remains scarce. One meaningful first step towards filling this data gap is through CMHC’s Condominium Vacancy Survey which has been used to collect data on foreign ownership since 2014.
The Toronto CMA is where analysis by the age of the building provides the most interesting insights into foreign buyers’ activities. The share of foreign ownership is less than 2% for buildings completed before 2000 to over 7% for those completed since 2010 (see Graph 1). This variation is even more pronounced in Toronto Centre where about 10% of the newer stock is owned by foreigners compared to about 2% of the stock built in the 1990s.
For complete report download the attached.
Irene Owchar is a Mississauga Realtor: "I grew up in Missy, lovin' raising my kids and working in this beautiful City."
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