Due to the inflating housing bubble in Vancouver and Toronto, the government was swift to implement a 15% foreign buyers tax. http://www.torontosun.com/2017/04/20/ontario-to-tax-non-resident-foreign-housing-buyers-15
With such a massive cut to potential profits, the buyers of these properties would need other avenues for their wealth to go as they exit their country.
I am surprised not to see any news on this since it is big money moving in.
wouldn't this amount to money laundering and be possibly illegal?
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