the CanadaVisa Team - 23 July, 2015
A landmark study commissioned by the Canada Mortgage and Housing Corp has revealed that new immigrants are increasingly becoming homeowners soon after their arrival in Canada.
The study tracked the housing situation of newcomers to Toronto, Vancouver and Montreal over periods of six months after their arrival, two years after their arrival, and four years after arrival.
It found that 17 per cent of immigrants became homeowners within six months of their arrival, and more than half of newcomers owned homes four years after their arrival.
Using the information from this study, the Building Industry and Land Development Association determined that immigrants were responsible for almost a third of housing sold in the Greater Toronto Area over the last eight years.
