Foreign buying drops dramatically in Toronto after new housing rules.

Original article via Huffington Post. Click here to read.

Ontario’s provincial government is declaring victory after new data shows a noticeable drop in the number of home sales to foreign buyers following the province’s new housing rules this spring.

The share of homes sold to foreign buyers in the Greater Golden Horseshoe region, which includes Toronto, fell to 3.2 per cent of all transactions between May 27 and August 18, down from 4.7 per cent in the month to May 26.

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