Following a pledge by Canadian Prime Minister Stephen Harper to invest CAD 500,000 in a scheme to track foreign property buyers should he win re - election , realtors have raised concerns of a potential shortage of vacant high - end properties . " We need the foreign buyers because they are buying all the high - end real estate , " noted a Montreal realtor . The Prime Minister ’s comments strongly appeal to those who believe Canadian residents are being priced out of the housing market to due foreign buyers willing to spend a larger amount on property ; currently , Vancouver is the second most unaffordable property market in the world .
Following a pledge by Canadian Prime Minister Stephen Harper to invest CAD 500,000 in a scheme to track foreign property buyers should he win re-election, realtors have raised concerns of a potential excess of vacant high-end property. "We need the foreign buyers because they are buying all the high-end real estate," noted a Montreal realtor. The Prime Minister’s comments may appeal to those who believe Canadian residents are being priced out of the housing market to due foreign buyers willing to spend a larger amount on property; currently, Vancouver is the second most unaffordable property market in the world.