A whopping 36 per cent of the condos in Toronto are owned by investors, according to a new report published by Statistics Canada via the Canadian Housing Statistics Program.
In some smaller markets, investors account for well over 80 per cent of condo ownership, and across Ontario overall, almost 42 per cent are owned by investors.
The report defines an investor as someone who owns at least one residential property that is not used as their primary place of residence. The data is pulled from early 2020, before the pandemic feeding frenzy hit and prices shot up by more than 50 per cent across the country as interest rates reached historic lows.
This is the result of Trudeau’s immigration policy. Immigrants park their money here to make a profit consequently driving up home prices and making Canada too expensive for Canadians to live in. Then they move on, that’s all they contribute. See Below.
