Quote:
Originally Posted by jbermingham123
You're assuming that the properties bought by foreign buyers are occupied and not simply sitting empty. In the case of chinese buyers, that assumption is wrong. Occupied building goes down, mostly unocuppied building goes up in its place. Obviously this isnt the case for most new construction in Canada, because the cities are still growing, but its pretty common, especially in Vancouver
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Toronto and Vancouver has near record low vacancy rates, so a negligible amount are sitting empty.
Vancouver has an vacant home tax and a grand total of 787 properties were considered empty in 2019
https://globalnews.ca/news/6523554/e...-results-2019/