Saskatoon Mortgage Broker shares article – Ottawa vows to shed light on foreign home buyers

By Tamsin McMahon –  March 22, 2016


Ottawa is planning to spend $500,000 to study foreign buyers of Canadian real estate and has earmarked millions more to collect new data it hopes will shed light on the risks the housing market poses to the economy.

The $500,000 will go to fund a year-long study by Statistics Canada on how best to collect data on purchases of Canadian homes by offshore buyers. The move is part of a broader push among federal agencies to track the level of foreign investment in the housing market and comes after B.C. announced its own new measures to require buyers to disclose whether they are Canadian citizens.

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