CMHC says foreign investors small part of Montreal real estate market
OTTAWA — A report by CMHC says the number of foreign investors in the Montreal area real estate market is small and concentrated in condominiums in the city’s downtown.
The report by the federal agency found that 1.3 per cent of condominiums in the greater Montreal area were owned by foreigners last year, but that rose to 4.9 per cent in the city’s downtown.
The Canada Mortgage and Housing Corp. says the United States and France were the top countries for foreign buyers.
Overall, 0.9 per cent of residential property purchases in the Montreal area were made by foreign investors last year.