Foreigners account for 4.7% of home sales in Toronto region

Toronto

THE Ontario government said overseas buyers accounted for just 4.7 per cent of home purchases in the Toronto area over a recent one-month period. The new data is in line with other surveys, signalling that foreigners haven't been major drivers of real estate prices in one of Canada's most expensive markets.

Non-residents bought about 860 properties between April 24 to May 26 in the so-called greater golden horseshoe region of Ontario which includes Toronto, Hamilton and Peterborough, the province said in a statement on Tuesday.