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Canada Revs Up Hunt for Foreign Flows Into Torrid Housing Market | Tony Seruga
Mar
07

Canada Revs Up Hunt for Foreign Flows Into Torrid Housing Market

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  • Housing agency holds meetings with tax department, realtors
  • Money-laundering unit also possible source of intelligence

Canada’s housing agency, looking for new methods to track foreign ownership in the country’s soaring real estate markets, may tap money laundering police and classify international university students as foreign buyers, according to internal documents.

Canada Mortgage & Housing Corp., the crown corporation that backstops mortgages and tracks new housing data, has been in contact with at least eight government agencies to find data on offshore buyers in Vancouver, Toronto and Montreal as prices continue to soar, according to 486 pages of e-mails, briefing notes, and other documents Bloomberg News obtained through a freedom of information request…

Canada Revs Up Hunt for Foreign Flows Into Torrid Housing Market

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