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Quebec to monitor property sales to foreign buyers, no tax planned
November 21, 2017 / 11:11 PM / 22 days ago

Quebec to monitor property sales to foreign buyers, no tax planned

MONTREAL, Nov 21 (Reuters) - Quebec said on Tuesday it plans to monitor the sale of property to and by foreign investors in the Canadian province by requiring the address of their primary residences in a bid to track overseas inflows into the real estate market.

The mainly French-speaking province would need to first pass legislation to obtain the addresses of foreign buyers and sellers, said Audrey Cloutier, a spokeswoman for provincial Finance Minister Carlos Leitao.

The plans were announced as part of Quebec’s budget update.

Quebec has also ruled out a tax on foreign buyers, Cloutier said. (Reporting By Allison Lampert)

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