The report indicates that 25 per cent of buyers in the GTA are foreign investors, with that portion reaching 50 per cent in Montreal. Vancouver has seen foreign buyers account for 40 per cent of real estate transactions.
Additionally, new builds have also been attracting foreign investors. While condos in Toronto's downtown core are being purchased by locals, property developers have been aggressively marketing their projects to foreign buyers, who have responded accordingly.
Although foreign buyers have been actively purchasing Canadian real estate, their activity has distorted sales figures and average prices. This comes hot on the heels of news from market analaysts that Canada's real estate markets are heading towards a bubble situation.
Of the many nationalities that have entered Canadian markets, the majority of the foreign interest is coming from South Asian investors. In response to that, South Asians who work as Realtors, mortgage brokers or financial service providers are reaping instant benefits from their countrymen.
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