A by-the-numbers look at foreign home owner data
OTTAWA— New housing statistics from the Canada Mortgage and Housing Corp., and Statistics Canada have measured for the first time foreign ownership in the country’s hot housing markets. The data released Tuesday is part of an effort to gauge how much influence foreign buyers have over skyrocketing prices. Here are some figures to keep in mind: 3.4: Percentage of all residential properties in the Toronto metropolitan area owned by non-residents. 4.8: Percentage of all residential properties in the Vancouver metropolitan area owned by non-residents. 3: Percentage of the total residential property value in the hands of non-residents in and around Toronto. 5.1: Percentage of the total residential property value in the hands of non-residents in and around Vancouver. $8 million: Average value of a home owned by non-residents in Vancouver and West Vancouver. $5.3 million: Average value of a home owned by Canadian resident owners in the same area. $103,500: Difference in value between a detached home in Toronto owned by a non-resident versus one owned by a Canadian. 7.2: Percentage of condominium-apartments owned by non-residents in the Toronto metropolitan area. 7.9: Percentage of condominium-apartments owned by non-residents in the Vancouver metropolitan area. 5,000: Municipalities which Statistics Canada expects to have data on by December 2022.