According to a recent survey from the Canadian Mortgage and Housing Corp. there is little risk of a Housing market crash triggered by foreign investors.
A new survey of Condo property managers showed global investors owned 2.4 per cent of Toronto Condos and 2.3 per cent of Vancouver Condos with a lower percentage in all other cities in Canada that were surveyed.
International Condo buyers focused further on Toronto, Vancouver and Montreal downtown Condos.
- Toronto Downtown Condos foreign ownership:4.3%
- Montreal Downtown Condos foreign ownership:6.9%
- Vancouver Downtown Condos foreign ownership:5.8%
The Bank of Canada said recently that Housing values in Canada were overvalued by as much as 30 per cent, thus representing a risk to Canada;s financial system, however this foreign investor report can put to rest many if not all the concerns that the risk of foreign investors selling at the same time is not here.
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