Out of the $ 153.0 billion of residential property purchased
by foreign buyers last year, $ 28.3 billion came...
Not exact matches
According to theRoyal LePage Carriage Trade Luxury Properties 2016 Report, Canada's luxury residential real estate market has seen a notable increase in
foreign buyer activity over the
last 10 years, with some realtors suggesting that more than 25 % of luxury properties now purchased
by foreign buyers.
The report, titled «In High Demand» and released Monday
by Ryerson University's City Building Institute, favours a tax on
foreign buyers — similar to the one introduced in Vancouver
last summer — but suggests it should be implemented in addition to a «progressive surtax» on expensive homes owned
by people who aren't paying income tax, including people with
foreign capital.
The figures capture the
last month in which
foreign property
buyers were not subject to a 15 per cent tax implemented Tuesday
by the B.C. government.
Rick Sharga: We've been tracking the enormous interest in U.S. properties
by Chinese investors —
last year, Chinese investors were the second - largest group of
foreign real estate
buyers in America, second only to Canadians — and have been exploring ways to reach these investors more effectively and efficiently.