2%. But how much of that 2% has been in the last 5 years? I heard it was up to 1/3rd of all properties sold.
There's only 1 million people globally (including Canadians) with a net worth over $10 million.
That means every single one of them would have bought a Canadian home in the last 5 years.
I mean Canada is nice and all, but does that seem plausible?
If they are washing or hiding, they don't care as much about the profit, so it makes sense they would be buying in larger numbers if they can.
It’s entirely possible that people with high liquidity were buying and selling multiple properties while people with low liquidity were staying put. That would naturally mean more wealthy people are buying (and selling), and foreign owners are likely much wealthier than the average Canadian home owner.