In a recent interview with Wall Street Journal blog, Canada Real Time, Sotheby’s International Realty Canada’s CEO, Ross McCredie said there is plenty of interest in Canada’s housing market from outside the country.
“People like investing in Canada, they like the economy, they like the future of Canada,” said McCredie.
Although it’s hard to track how many homes are purchased by foreign buyers because the government keeps no official record of foreign investment the Canadian housing market, foreign investors remain enthusiastic about the Canadian property market.
A recent report released by Sotheby’s stated sales of homes of over $1 million Canadian dollars were strong through the first half of 2013.
McCredie said the weaker performance of the market in 2012 created concerns about the outlook of Canada’s economy towards the end of the year and slowed foreign buying.
However, McCredie believes these concerns have since dissipated.
“Talking to our consumers and our agents, I’m not seeing anything that worries me, right now,” he said.