12 August 2014
CMHC’s report says 82.9% of condominium owners live in their units, while 17.1% bought them for investment.
Almost half of condo investors in Toronto and Vancouver now rent out their last bought real estate.
Nevertheless, the report doesn’t include information on foreign investors.
“CMHC keeps searching for the possibility to access the information on foreign and corporate investment activities in the real estate market,” – Dugan added.
Here are some other results from CMHC’s survey:
- 58.4% plan not to sell their last purchased real estate for more than 5 years;
- 17.9 % – for 2-5 years;
- 7.6% – for less than 2 years;
- 16.1% couldn’t answer this question;
- 11.9% bought their secondary condominium in order to resell it for the profit during one year from the purchase date.