Key Findings of Transparency International Canada's Report:

  • Corporate entities have acquired $28.4 billion in GTA housing since 2008. The vast majority of those companies are privately owned, with no information on their beneficial owners.
  • $9.8 billion in GTA housing was acquired by companies through cash purchases during that period, much of it bypassing statutory AML checks on source of funds and beneficial owners.
  • From 2008 to 2018 more than $25.4 billion in residential mortgages in the GTA were provided by unregulated lenders with no AML reporting obligations. Nearly 50% of those unregulated mortgages were issued to corporate buyers, despite corporate purchases accounting for less than 4% of total transactions.