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The topic of foreign ownership in Canada’s housing markets continues to gain in importance and attention. In line with its commitment to sharing insightful information as it becomes available, Canada Mortgage and Housing Corporation (CMHC) released today its latest Housing Market Insights (HMI) report on this topic.

The report looks at the share of foreign ownership by the age of structure and is meant to be read in tandem with CMHC’s fall 2015 HMI report on Foreign Ownership. Findings reveal that share of foreign ownership is most prominent in new condominium apartment structures in Toronto and to a lesser extent in the Vancouver Census Metropolitan Areas (CMAs). The share of foreign ownership is most prominent in the newer structures in Toronto Centre.

Report Highlights

  • In the Toronto CMA, the share of foreign ownership is less than 2% for buildings completed before 1990 and 7% for newer constructions completed since 2010. This effect is even more pronounced in Toronto Centre where about 10% of the newer stock is owned by foreigners.
  • In the Vancouver CMA, foreign buyers’ share rises from less than 2% for properties built before 1990 to about 6% for those completed since 2010.

At this time, no existing tool can provide a definitive measure of the level of foreign investment in Canada’s housing markets. That said, CMHC regularly engages in discussions internally, as well as with industry experts, as part of its continued efforts to develop a program of work that would better capture data on foreign buyers.

Simon Fraser
Market Update

Simon Fraser Condos

Altaire by Polygon

Altaire built in 2008/2009 reaches higher then any other condo building in Metro Vancouver offering panoramic views.

Novo I by Intergulf

Novo I built in 2007 known for the amazing sight lines and views from most units and balconies up to 1000 sq ft.

Novo II by Intergulf

Novo II built in 2007 known for the amazing sight lines and views from most units and balconies up to 1000 sq ft.

Aurora by Polygon

Aurora built in 2006 with 103 condos featuring 36 unique floor plans ranging from 715 sq ft to 1500 sq ft.

One University by Millennium

One University built in 2005 is UniverCity's flagship building with luxury homes featuring semi private elevators.

Harmony by Polygon

Harmony built in 2005 was the first condo development at Univercity & as a result offers a unique setting & views.

Serenity Townhomes by Polygon

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The Hub by Liberty Homes

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Verdant by VanCity Enterprises

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Origin by Porte Development

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Nest by Mosaic

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Highland House by Liberty Homes

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Lift by Porte Development

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Altitude by Hungerford Group

Altitude will be a 2 tower development comprising of a 12 and 14 story building with a total of 210 strata units.

CentreBlock by Liberty Homes

CentreBlock at UniverCity atop Burnaby Mountain is the latest condo project with sales commencing early 2014. .

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