Canada PM vows to track, possibly limit foreign home buyers
Updated: 2015-08-13 09:18
(Agencies)
|
|||||||||||
OTTAWA/VANCOUVER - Canadian Prime Minister Stephen Harper pledged on Wednesday to track and possibly limit foreign purchases of Canadian real estate if reelected, but the move was not expected to cool foreign buying anytime soon.
"There are real concerns that foreign, nonresident real estate speculation is the reason some Canadian families find house prices beyond their budgets," Harper said while visiting suburban Vancouver.
The announcement hones in on fears in Vancouver that foreign money is driving rapidly rising housing prices, fueling calls for government to track international buyers and impose restrictions.
If the Conservatives return to power in the Oct 19 vote, Harper said his government will start collecting data on Canadian real estate purchases by nonresident foreigners.
If necessary, he would coordinate with Canada's provinces to ensure that foreign, nonresident investment "supports the availability and affordability of homes for Canadians".
He did not provide details of what might trigger such a step.
But Vancouver real estate agents questioned whether the measures would have much impact on the city's red hot property market because recent changes to immigration policy did little to discourage international interest.
Related Stories
Canada immigrant investor program sputters 2015-07-30 12:13
New freighter service launched between China and Canada 2015-07-29 19:12
Canada, Israel modernize free trade agreement 2015-07-22 09:17
Air China Cargo to launch Canada service 2015-07-21 10:19
China important to Canada: Oliver 2015-07-10 09:40
England harpoons Canada's dream 2015-06-29 06:43
Today's Top News
Yuan may stumble, but will not fall
Third Greek bailout deal submitted
to parliament
Pearson to sell 50% stake in Economist Group
Heatwave in Egypt kills at least 61
Chinese yuan extends sharp fall, long-term depreciation unlikely
A dwindling band of brothers
'Missile fragments' recovered from MH17 site
Beijing to close roads, metro stations for parade drill
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Worlds apart in a different class |
Road map points way for new industrial cluster |
Plan to teach pupils practical skills welcome |
Civility strikes back |
Changing color of China's blue-collar workers |
Frozen assets may not beat the biological clock |