Foreign Buyers Invest In Canadian Real Estate


    Canada’s luxury residential real estate market has seen a notable increase in foreign buyer activity over the last 10 years, says a survey of real estate advisors in the ‘’Royal LePage Carriage Trade Luxury Properties Report.’ When asked about activity over the last decade, 66 per cent of real estate advisors believe foreign buyer activity increased in their region since 2005. Almost a quarter (24 per cent) of advisors surveyed believe that 25 per cent or more of luxury properties in their area are purchased by foreign buyers. Over half of the advisors polled (51 per cent) cited China as the primary international region generating real estate purchases in Canada. Looking forward, 60 per cent of advisors anticipate increased foreign buyer activity in their region this year. “While the impact of foreign buying on Canada’s overall residential real estate market is small, we see it growing in importance in the luxury market,” says Phil Soper, president and chief executive officer, Royal LePage. “Canada’s stable political and financial systems, along with a tradition of cultural tolerance and openness to immigration and diversity, make our country an ideal destination for wealthy international purchasers looking to invest in real property.