Non-resident Properties in Greater Victoria

Canada Mortgage and Housing Corporation (CMHC) provided insight into the percentage of non-resident properties in Greater Victoria. A property is considered non-resident when it is owned by, or partly owned by people who are non-residents, those being people who don’t live or work in Canada. In Greater Victoria, 5.2 per cent of homes have at least one person on title who are not considered a resident with 2.9 per cent of households being non-residents only and 2.3 per cent are a mix of residents and non-residents. For comparison, the Provincial average is 6.3 per cent and Metro Vancouver leads all BC cities at 7.6 per cent. Interestingly, CMHC found non-resident owners tend to buy newer properties and tend to have higher assessment values.
Source: vancouverisland.ctvnews.ca