CMHC: Foreign Ownership in Canada’s Housing Market Remains Low
OTTAWA — Analysis from two new Housing Market Insights shows that the share of foreign ownership remains low. In some CMAs it even declined over the last year. Foreign ownership of condominiums was highest in Vancouver (2.2%) and Toronto (2.3%). However, both markets saw a decline in foreign ownership compared to last year.
Within Vancouver and Toronto, foreign ownership continues to be highest among newer and larger buildings in central areas. In Toronto, the share of foreign ownership rose in buildings completed since 2010 (3.9%), and in buildings with more than 500 units (5.5%). In Vancouver, newer buildings saw a 5.0% share of foreign owners while buildings with more than 100 units reported a 3.2% share. Beyond Vancouver and Toronto, the share of foreign owners ranged from a low of 0.2% in Saskatoon and Regina to a high of 1.2% in Halifax. To read the complete report, click here