12 Jul Foreign-bought real estate concentrated in Toronto, new data shows.
Original article via CP24. Click here to read.
TORONTO – Newly released data from the Ontario government shows half of real estate transactions involving a foreign buyer in the Greater Golden Horseshoe region took place in Toronto the month after the province introduced a new tax on non-residents.
The Ontario government says there were 857 residential and agricultural real estate purchases by foreigners in the Greater Golden Horseshoe — which stretches from the Niagara Region to Peterborough, Ont. — between April 24 and May 26.
Half of those foreign-bought properties were in Toronto and 21 per cent were in York Region.