Coincidental. Vancouver was poised for a massive correction after prices increased 30% in the past 12 months.
My understanding is that condo sales and prices are still strong. So I'd ask if foreign purchases were the cause, why are condo sales still going up?
And after they were kicked out from Toronto they moved to Montreal. Prices/Sales in Mtl had increased by highest percentage on record (and that after 5 years being flat)
Toronto homes in certain neighborhoods lost nearly 25% compared their peak value in April. There were no restrictions on foreign investors.