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For additional information relating to this article, please contact:

Thomas Storring Director of Economics/Statistics
Tel: 902-424-2410Email: Thomas.Storring@novascotia.ca

December 19, 2017
NON-RESIDENT HOME OWNERSHIP, 2017

As part of the new Canadian Housing Statistics Program (a joint project with the Canada Mortgage and Housing Corporation), Statistics Canada has released the first tables of new information about the housing market in Canada.  Today's release focuses on non-resident ownership of residential property among Census Metropolitan Areas.

In this context, 'non-resident homeowner' refers to an individual whose principal residence is outside of Canada.  These owners could be Canadian nationals with a non-Canadian residency.  While Statistics Canada's results focus on individual as well as corporate owners in the Toronto and Vancouver markets, the CMHC results look at individual owners of residential properties in a number of Canadian cities.

Non-resident ownership is estimated (in CMHC data) to be highest in the largest urban centres: Toronto, Vancouver and Montreal.  This is followed by the share of non-resident ownership in Halifax, Gatineau, Victoria and Calgary.

Statistics Canada's estimates of non-resident ownership (including corporate ownership) attributes 3.4 per cent of residential properties in Toronto to non-residents.  Vancouver's non-resident ownership rates are 4.8 per cent of properties.  Non-resident ownership is higher for condominiums in both markets.

Source: Statistics Canada, CANSIM table 035-0002; Canada Mortgage and Housing Corporation, Housing Market Insight (December 2017)

 



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