As of April 2021, the changes to the First-Time Home Buyer Incentive program the federal government announced as part of the Fall Economic Statement on November 30, 2020 are in effect. The eligibility for the program has been expanded in the higher priced housing markets of Victoria, Vancouver, and Toronto.
There has been a lot of speculation about the impact of foreign property ownership on real estate prices over the past couple of years. In joint research from Canada Mortgage and Housing Corporation (CMHC) and Statistics Canada, we can finally see some numbers and what they mean for our local housing market.
Written by
Katherine Lim
· Tagged:
Vancouver,
Victoria BC,
CMHC,
foreign buyer,
housing market,
Industry News,
toronto