Concerns about foreign investors snapping up real estate have dominated headlines recently, but a new report suggests domestic investors outnumber foreign buyers in the Greater Toronto Area’s new condo market 10 to 1.

Toronto condo research firm Urbanation says foreign buyers, whose primary residence is outside of Canada, made up only 5%  of the sales of new units in condo buildings that were under development between July and September.

Meanwhile, domestic investors – those whose primary residence is in Canada but who don’t plan on living in the unit – made up 52% of the sales. The remaining 43% of new condos sold in the Toronto area went to locals who plan to live in the properties, according to the firm.

(source credits: cbc.ca)