Toronto's real estate market is rising on the back of the British Columbia 15% foreign buyer tax implementation, reports the Globe and Mail (17 February 2017). According to data from Juwai.com, a property portal specialised in international real estate in China, Toronto overtook Vancouver to become the most sought-after Canadian city for Chinese home buyers, peaking in August just after British Columbia announced the tax aimed at curbing the public outrage over skyrocketing prices. Chinese buyer searches for Toronto homes on Juwai.com surpassed the total Chinese buyer enquiries for Vancouver, Montreal, Calgary, and Ottawa combined.
