According to a recent Canadian Mortgage and Housing Corporation study the answer is – not very much.
The CMHC’s annual rental market survey says that only 2.4% of condos in Toronto are owned by foreign investors.
An article in The Star also revealed a few other intriguing stats from the same study which among other things, confirm the re-urbanization trend of late. Consider this – the average rent increase of 8% for a condo in the downtown TO core was 80% more when compared with the GTA average of 4.4% in the past year. The entire article by Susan Pigg is well worth reading.