Canada urged to compile data on home purchases by foreigners

Toronto

HSBC Holdings, the largest foreign lender in Canada, said the country's officials need to start tracking cross-border purchases of homes because the high-priced transactions may be inflating values in Vancouver and Toronto.

Asian demand for Canadian real estate is high and will continue to rise as China eases restrictions on investing capital abroad, according to officials of the London-based bank. That appetite is contributing to rising home prices in the nation's two most expensive housing markets.