How much are foreign investors driving the condo market in the GTA?

TO condos 2

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.

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