HomeMortgageSurvey: Non-residents deep in multiple home ownership across Canada

Survey: Non-residents deep in multiple home ownership across Canada

Data from Statistics Canada supports this observation: Multiple-property owners possess nearly one-third of all residential properties nationwide, a phenomenon most prevalent in Nova Scotia (41%) and Ontario (31%).

Read more: Owning multiple properties in Canada – how it’s growing in prominence

A major element to consider in this trend is the time distribution of these non-residents’ buying activity.

“Had the share of non-resident purchases been over decades, it may not have been as noticeable,” Better Dwelling said. “Data shows the surge was a recent phenomenon, and Canada’s non-resident ownership is particularly concentrated in new reconstruction.

“Eliminating non-resident buying like the federal government is suggesting doesn’t eliminate this problem. It just means domestic speculators get the home field advantage, and…

Read more at www.mpamag.com

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