Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

July 13, 2016 08:15 ET

Foreign Investment in Montreal Real Estate Market Is Relatively Low

MONTREAL, QUEBEC--(Marketwired - July 13, 2016) - As part of its ongoing efforts to address housing market data gaps, Canada Mortgage and Housing Corporation (CMHC) released today its latest Housing Market Insight (HMI) report on foreign investment in the Montréal census metropolitan area (CMA).

Using land register and property assessment roll data as well as drawing from the results of its previously released survey of foreign ownership in condominiums, CMHC reports relatively low levels of foreign investment in the greater Montréal area. This finding, presented at a round table on foreign investment organized by CMHC, was corroborated by several industry players.

Report highlights

  • The presence of foreign investors in the Montréal real estate market is relatively low, as indicated by data drawn from CMHC's survey of foreign ownership in condominiums as well as from the land register and property assessment rolls.
  • Foreign investment in Montréal is concentrated in the condominium segment, especially in the central sectors of the city.
  • The data shows that there are not more foreign investors in newer or larger condominium buildings in central sectors of Montréal.
  • According to the data, the majority of foreign investors own just one condominium unit in the Montréal city.
  • Given the small number of foreign investors in the Montréal real estate market, risks related to their presence are limited overall.

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As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.

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QUOTES

"The presence of foreign investors in the Montréal real estate market is relatively low and concentrated in the condominium segment, especially in the central sectors of the Montréal area. These results, presented at a round table on foreign investment organized by CMHC, were corroborated by several industry players."

Francis Cortellino

Principal, Market Analysis

Canada Mortgage and Housing Corporation

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