Foreign Buyers Increase Condo Stakes in Canada Cities

Foreign owners are taking a larger share of the condominium markets in Toronto and Vancouver, Canada’s housing agency said.

Foreigners owned 3.5 percent of all condos in Vancouver and 3.3 percent in Toronto, Canada’s largest city, according to a report Thursday from Canada Mortgage & Housing Corp. which surveyed property managers. That’s up from the 2014 share of 2.3 percent and 2.4 percent. In the downtown core, foreign buyers made up 5.4 percent of Vancouver condo buyers this year and 5.8 percent in Toronto, both up from last year.