13 March 2019

“Such information helps us understand the influence of non-residents on demand in Canadian real estate markets, and this issue is of public interest when it comes to investment behaviour,” – noted Aled ab Iorwerth, deputy chief economist at CMHC.

In case of Ontario, 3.3% of homes have at least one foreign owner, and in Toronto the number reaches 3.8%. Moreover, 6.1% of provincial condos are owned by at least one non-resident, and in Toronto it’s 7.6%.

Nova Scotia is also attracting foreign buyers, though not so strongly as the two most expensive housing markets of Canada. CMHC says only 7.1% of properties here have at least one non-resident owner, and it’s 4.3% for Halifax. Many believe the non-residents prefer buying vacation properties in this province.

The average cost of condos owned by non-residents is the highest in British Columbia (29.1%), with Ontario (20.2%) and Nova Scotia (10.8%) following.