3 ms·

Then why did your real-estate prices go down when they disallowed foreign investor's?

• refurb 9y ago
  Coincidental. Vancouver was poised for a massive correction after prices increased 30% in the past 12 months. My understanding is that condo sales and prices are still strong. So I'd ask if foreign purchases were the cause, why are condo sales still going up?
• gnopgnip 9y ago
  Toronto homes in certain neighborhoods lost nearly 25% compared their peak value in April. There were no restrictions on foreign investors.
  • kitcar 9y ago
    To clarify for those not versed in Canadian tax policy, April is when the foreign investor tax was announced in Toronto: https://www.theguardian.com/world/2017/apr/20/toronto-foreign-tax-homes-housing-market-canada https://www.theguardian.com/world/2017/apr/20/toronto-foreig...
• myth_drannon 9y ago
  And after they were kicked out from Toronto they moved to Montreal. Prices/Sales in Mtl had increased by highest percentage on record (and that after 5 years being flat)