CMHC Says Investors Own 17% of Toronto, Vancouver Condos
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Investors have purchased 17 percent of Toronto and Vancouver condominiums, according to a survey by Canada’s housing agency.
About half of those investors rent out their last purchased unit, results published today from the Canada Mortgage & Housing Corp. poll show. Among investors, 58 percent expect to keep their most recently purchased unit more than 5 years, while 18 percent anticipate keeping it 2 to 5 years and 7.6 percent intend to retain it less than two years.