Local investors outnumber foreign in Toronto condo market

TORONTO – Concerns about foreign investors snapping up real estate have dominated headlines recently, but a new report suggests domestic investors outnumber foreign buyers in the Greater Toronto Area’s new condo market ten-to-one.

Toronto condo research firm Urbanation says foreign buyers, whose primary residence is outside of Canada, made up only five per cent of the sales of new units in condo buildings that were under development between July and September.

Meanwhile, domestic...

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