Primer

A who’s who of bil­lion­aire for­eign na­tion­als buy­ing up Toronto

Toronto Life - - Contents - By ni­cholas miz­era

For­get low in­ter­est rates and the lack of sin­gle-fam­ily homes. Agents and an­a­lysts are pin­ning Toronto’s real es­tate in­san­ity on a new scape­goat: a wave of wealthy for­eign in­vestors who swoop into show­ings over Skype, toss cash around like Cana­dian Tire money and leave their lux­ury pent­houses empty. They’ll do what­ever it takes to call Toronto home—even if they never plan to set foot in the city. Who are they and how do they do it? Here, our every­thing guide to the buy-from-abroad phe­nom­e­non.

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