Close X
Thursday, January 16, 2025
ADVT 
National

Foreign Investors Small Part Of Montreal Real Estate Market: CMHC

The Canadian Press, 13 Jul, 2016 02:13 PM
  • Foreign Investors Small Part Of Montreal Real Estate Market: CMHC
OTTAWA — A report by CMHC says the number of foreign investors in the Montreal area real estate market is small and concentrated in condominiums in the city's downtown.
 
The report by the federal agency found that 1.3 per cent of condominiums in the greater Montreal area were owned by foreigners last year, but that rose to 4.9 per cent in the city's downtown.
 
The Canada Mortgage and Housing Corp. says the United States and France were the top countries for foreign buyers.
 
Overall, 0.9 per cent of residential property purchases in the Montreal area were made by foreign investors last year.
 
That compared with an annual average of 0.4 per cent from 2005 to 2013.
 
The issue of foreign ownership has been a key issue raised in Vancouver and Toronto where money coming from outside the country has been cited as a factor in driving up real estate prices in those cities.
 
A report by CMHC earlier this year found foreign ownership in the Toronto and Vancouver condo markets stood at 3.3 per cent and 3.5 per cent, respectively, but was higher when it came to newer buildings.
 
The federal budget earmarked $500,000 over the next year for Statistics Canada to develop a method for measuring the level of foreign investment in Canadian real estate.

MORE National ARTICLES

NDP Motion Calls On Feds To Decriminalize Marijuana Before Legalizing It

Prime Minister Justin Trudeau campaigned on a promise to legalize, regulate and restrict access to marijuana, and his government plans to get started next spring.

NDP Motion Calls On Feds To Decriminalize Marijuana Before Legalizing It

'Craft Cannabis' Growers Fight For Legal Role, Say B.C. Jobs, Tourism At Stake

'Craft Cannabis' Growers Fight For Legal Role, Say B.C. Jobs, Tourism At Stake
Now in his mid-thirties, Lane owns an online dispensary and runs two 390-plant operations on Vancouver Island. He employs two growers and raises his plants without pesticides or liquid fertilizer.

'Craft Cannabis' Growers Fight For Legal Role, Say B.C. Jobs, Tourism At Stake

HMCS Windsor Makes Second Attempt At Norway Trip After Engine Repair

HMCS Windsor Makes Second Attempt At Norway Trip After Engine Repair
The navy says HMCS Windsor left the port in Halifax at around 9 a.m. on Saturday to take part in a 12-day multinational exercise in waters off Norway.

HMCS Windsor Makes Second Attempt At Norway Trip After Engine Repair

Kathleen Wynne Sets Her Sights Long Term; Experts Call It A Risky Strategy

Kathleen Wynne Sets Her Sights Long Term; Experts Call It A Risky Strategy
TORONTO — Ontario Premier Kathleen Wynne dreams of a rosy future of cleaner air, pensions for all and billions of dollars of gleaming new infrastructure.

Kathleen Wynne Sets Her Sights Long Term; Experts Call It A Risky Strategy

Surrey RCMP Warn Of Man Driving Around Naked And Exposing Himself To Women In Clayton Heights Area

Surrey RCMP Warn Of Man Driving Around Naked And Exposing Himself To Women In Clayton Heights Area
Surrey RCMP is asking the public to be on the lookout for a male exposing himself to adult women in the Clayton Heights area of Surrey.

Surrey RCMP Warn Of Man Driving Around Naked And Exposing Himself To Women In Clayton Heights Area

Vancouver Airport Drug Smuggler Gurvinder Singh Pahl May Spend More Time Behind Bars

Vancouver Airport Drug Smuggler Gurvinder Singh Pahl May Spend More Time Behind Bars
Gurvinder Singh Pahl pleaded guilty in January 2015 to possessing ecstasy for the purpose of exportation and was sentenced to five years in prison

Vancouver Airport Drug Smuggler Gurvinder Singh Pahl May Spend More Time Behind Bars