Based on a senior real estate developer, the alleged comments that the increase of home prices are being fueled by foreign buyers in Toronto due to the face that they purchase properties and leave them vacant are not irrefutable.
The senior vice-president of Fortress Real Developments Ben Myers penned in the Huffington Post said that he has noticed negligible proof that the number of vacant homes in the city is on the rise, the high numbers didn’t depict the whole story.
Statistics Canada data which showed the total residences and those apartments where usual residents occupy caused many to believe the difference concerning the two numbers is vacant households. However, Myers mentioned that the means by which data is gathered does not justify short-term residences comprising of students.
The info gathered by the city on garbage collection does not clarify the uprising numbers of empty homes, even though waste decline amidst increase of homes. Myers commented that there could be several reasons leading to the drop.
The latest analysis on Toronto’s housing market was released by Fortress Real Developments throughout Canada.