Many US Cdn owners.rec properties purchased after foreign buyer ban

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TORONTO — A new report from Royal LePage shows that 75% of U.S. citizens living in border towns and owning recreational properties in Canada purchased after the federal government announced a ban on foreign buyers. It has been.

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The two-year ban applies to non-Canadian citizens and non-permanent residents and is expected to take effect on January 1st.

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77% of U.S. citizens who purchased recreational property in Canada after the announcement said they were influenced to purchase by the end of the year due to the potential impact of the ban.

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Second homes are not expected to be covered by the ban, but a survey of 1,506 US citizens showed the measure had a “significant” impact on some purchase intentions, according to Royal LePage. I’m here.

About 70% of those surveyed from November 8-14 said they or their spouse were Canadian citizens, and at least 43% owned recreational facilities in Ontario. I was.

About 40% in Quebec, 35% in Atlantic Canada, 32% in British Columbia, 17% in Alberta, and 16% in Saskatchewan and Manitoba own recreational facilities.