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jerryking : cmhc   2

More foreign buyers snapping up Canadian condos: CMHC - The Globe and Mail
TAMSIN MCMAHON - REAL ESTATE REPORTER
The Globe and Mail
Published Thursday, Dec. 03, 2015

The federal housing agency said it has struggled to get a full picture of foreign purchaser activity in the housing market and that its numbers are far lower than those in other studies. ....

The only data that CMHC has on foreign buyers are from surveys of property managers and condo boards, who are asked to identify non-resident condo owners. The survey doesn’t measure the number of overall home sales in a given year to foreign investors, nor whether foreign owners are buying units for themselves and family members or purely as speculative investments. CMHC also includes Canadians who now live abroad but who still own property in the country as part of its definition of foreign owner.....“We’re trying to work with other people and make an effort to get these data gaps solved so we can have more information about what some are saying is an important part of the market,” Mr. Dugan said. “You can see from our data that the rate of foreign ownership seems relatively low, certainly not the kind of levels that some other studies might suggests.
real_estate  CMHC  offshore  data  condominiums  information_gaps  housing  dark_data 
december 2015 by jerryking

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