Statistics Canada Report Reveals Insights into Canada Real Estate Investors and Regional Differences

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A report by Statistics Canada provides insights into real estate investors in Canada, focusing on the provinces of Ontario, British Columbia, Manitoba, Nova Scotia, and New Brunswick during the reference year of 2020. The data reveals that Nova Scotia, New Brunswick, and British Columbia had the highest volume of out-of-province and non-resident investors. In 2020, 3.8% of Nova Scotia investors, 3.0% of New Brunswick investors, and 2.7% of British Columbia investors were from outside the province. However, it should be noted that the report's findings represent a different housing market compared to the present, and recent changes such as interest rate hikes and inflation developments may have affected the profile of existing investors.

The report also highlights that out-of-province investors had the highest average incomes compared to other types of investors in the assessed provinces. Additionally, owning vacant land in addition to a primary residence did not significantly impact the average annual income of investors, which was similar to individuals not investing in real estate. The data further reveals that in New Brunswick, 1.6% of in-province investors owned three or more properties, while 2.9% of Ontario investors owned three or more properties in their province.

The report also compares immigrant investors to Canadian-born investors. Established immigrants, those who arrived in Canada before 2010, were more likely to be investors than their proportion in the population. Immigrant investors had higher average assessed property values compared to Canadian-born investors, with British Columbia immigrant investors having an average value of $2,200,000 compared to $1,610,000 for Canadian-born investors. This discrepancy can be attributed to the fact that immigrant investors were more likely to own a primary residence in larger metropolitan areas, where property assessment values are generally higher. The competitive immigration process in Canada, which prioritizes individuals with high education and job eligibility, is considered a major factor contributing to this trend.

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