November 21, 2017 / 11:13 PM / 2 years ago

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

Sale signs line homes surrounded by slag heaps in Thetford Mines, Quebec, February 12, 2012. REUTERS/Christinne Muschi

MONTREAL (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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