International real estate buyers rise in Canada
Canada Mortgage and Housing Corporation (CMCH) survey shows the shares of foreign ownership in condominium apartments rose in the six major cities of Canada.Shares of foreign ownership ranged from zero per cent in the Regina Census Metropolian Areas (CMA) to 3.3% and 3.5% in the Toronto and Vancouver CMAs, respectively.
While still low as a proportion of overall ownership, the percentages in both the Toronto and Vancouver CMAs were higher in 2015 than the 2.4% and 2.3% (respectively) levels recorded in 2014, and the year-over-year changes were statistically significant.The Winnipeg CMA also showed a statistically significant increase in foreign ownership, from 0.1% in 2014 to 2.7% in 2015.
Foreign buyers mostly concenrtrated in Vancouver City,Toronto Centre and Downtown and Nuns’ Island
zone of Montreal. Within the Montréal CMA, the Downtown and Nuns’ Island zone reported a foreign ownership share of 4.9%, compared to 1.3% for the entire CMA.