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A Realistic Look at Federal, Provincial Non-Resident Buyer Bans
Posted by Infinity Admin on
For years, even before the coronavirus pandemic, many public policymakers and housing advocates claimed that foreign investors contributed to the skyrocketing cost of home ownership in Toronto and Vancouver. At a time when Canadian real estate prices have skyrocketed since the beginning of the COVID-19 public health crisis, lawmakers are looking closely as possible solutions, with some suggesting non-resident buyer bans could cool the hot market.
According to the latest data from Statistics Canada, non-resident owners account for an average of nearly three per cent of housing stock. This is up from the pre-pandemic rate of 2.3 per cent.
Where are foreign investors dropping their capital in the Canadian real estate market?…
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