Found 2 blog entries tagged as non-residents.

Can non-Canadian residents participate in the Canadian real estate market? Sure, they can, but how does this work? We have put together a brief guide on selling a property in Canada as a non-Canadian resident.

Selling a Property in Canada as a Non-Canadian Resident Owner

A non-resident is allowed to buy and sell residential property in Canada.

Indeed, non-residents can enjoy many of the same facets of the Canadian real estate market as residents. They can obtain a mortgage loan from financial institutions as long as they fulfill the bank’s requirements and are approved for equity loans. Plus, for extra earned income on a property in Canada, non-resident property owners can also earn income on a property in Canada by renting it or using it as…

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Non-Resident Buyer Bans

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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