{"id":2579,"date":"2018-03-28T12:08:16","date_gmt":"2018-03-28T16:08:16","guid":{"rendered":"http:\/\/lifeinsurance-orleans.ca\/Life-Insurance-Blog\/?guid=9e39186050512c022e676a80058c1c46"},"modified":"2018-03-28T13:56:03","modified_gmt":"2018-03-28T17:56:03","slug":"foreign-buyers-are-starting-to-drive-up-home-prices-in-quebec","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2018\/03\/28\/foreign-buyers-are-starting-to-drive-up-home-prices-in-quebec\/","title":{"rendered":"Foreign buyers are starting to drive up home prices in Quebec"},"content":{"rendered":"

Foreign buyers of real estate in Quebec are putting “marginal” pressure on prices while still accounting for a tiny sliver of the market relative to Vancouver and Toronto, according to new data released by the French-speaking province.<\/p>\n

Non-Canadian residents generated 1,307 property transactions in Quebec last year, representing 1 per cent of all deals, finance ministry documents show. That’s little changed from 2008, when they made up 0.8 per cent of the total. Foreigners mostly purchased high-end properties, averaging $559,000 (US$434,343) apiece, the finance ministry said Tuesday.<\/p>\n

U.S.-based buyers made up the biggest share of foreign acquirers with 32 per cent of all transactions. French buyers were next with 20 per cent, followed by Chinese nationals at 16 per cent. That’s a marked contrast from 2006, when Chinese residents accounted for just 1.3 per cent of all foreign home transactions in Quebec.<\/p>\n