Why foreign-owned condos really are a problem

Concentrations in the downtown cores of major cities are high

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From the February/March 2015 issue of the magazine.

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Homeowners recently sighed with relief when a recent Canada Mortgage and Housing Corporation study found that the percentage of foreign-owned condos in Canada’s biggest cities is typically less than 2.5%. But when we took a deeper dive into the numbers, we found much higher concentrations in the downtown cores of the cities below. That’s worrying because if enough foreign owners get spooked and sell, it could set off a crash that reverberates through the whole city.

condo concentration

 

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