Brokers sceptical over CMHC foreign ownership data
Brokers have been quick to react to new CMHC data on foreign ownership of condos. The report says that contrary to popular belief the figure for Toronto; where foreign investment is most prolific; is only 2.4 per cent; Vancouver 2.3 per cent; Calgary just 0.2 per cent. Most of the comments to Mortgage Broker News are dismissive of the figures with methodology in collecting the data being called into question. It’s the first time that CMHC has included insight into foreign ownership in its twice-yearly Rental Market Survey.