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Why wealthy Quebec immigrants settling in Vancouver and Toronto is a problem | Colin Singer

Wednesday, February 28, 2018 @ 9:07 AM | By Colin Singer

Thousands of wealthy candidates who come to Canada through the Quebec Immigrant Investor Program (QIIP) are settling in Vancouver and Toronto. These high net worth individuals are using the QIIP as a back door to Canada’s two most popular cities and are being blamed for driving up the housing markets in these major metropolitan areas.

Both have introduced foreign buyer taxes to combat the out of control housing prices — Vancouver in particular is considered one of the fastest growing markets in the world.

But wealthy...