Up To 49% Of Urban Realty Is Foreign-Owned, Gov’t Warns

Offshore money accounts for 25 to 49 percent of residential property sales in Canada’s largest cities, says a newly-released federal report. Cash buyers from China, Russia and the Middle East are among top investors, according to a study commissioned by the Financial Transactions & Reports Analysis Centre. The research was obtained through Access To Information: ‘Cash is very common’.

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