Foreign buyers in Montreal: limited in number, but increasing

(firmenpresse) - MONTREAL, QUEBEC -- (Marketwired) -- 06/22/17 -- The share of foreign buyers in the Montreal residential market is increasing but remains low overall, according to a new (HMI) report released today by the Canada Mortgage and Housing Corporation (CMHC).

After strong growth in 2016, the upward trend in foreign ownership was maintained over the first part of 2017 (January to April). About 235 foreign buyers were recorded in the Montreal area - an increase of nearly 40 percent compared to the same period last year.

CMHC continues to monitor developments regarding the presence of foreign buyers in Montreal's housing market, particularly since the recent introduction of taxes on foreign buyers in British Columbia and Ontario.

Report Highlights

QUOTE

"Although the number of foreign buyers has continued to increase in the Montreal area since the beginning of 2017, purchases by foreign buyers represent only about 2% of all transactions in the residential market."

Francis Cortellino, Principal Market Analyst, Canada Mortgage and Housing Corporation

METHODOLOGY

The results published in this report were taken from the Government of Quebec land register data. Please refer to page 4 of the report for more information on methodology and its biases.

In order to access future Market Analysis Centre publications from CMHC, please subscribe to .

As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.

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Contacts:
Catherine Leger
Senior Public Affairs Advisor
Canada Mortgage and Housing Corporation
514-283-7972

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Bereitgestellt von Benutzer: Marketwired
Datum: 22.06.2017 - 12:15 Uhr
Sprache: Deutsch
News-ID 549330
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MONTREAL, QUEBEC

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Government & Administration

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