For those considering an Ont. "foreign owner tax" some brand new stats:

"Think the foreign buyer tax reduced sales of Vancouver real estate? Not exactly. Declining sales have more to do with a Chinese clampdown on outflows in December, and new capital controls in January.  Since the new controls, sales declined for the first multi-month period in Vancouver. This is opposed to the growth observed immediately after the foreign buyer tax."

"February saw 289 properties sold to foreign buyers in total, a 13.73% decline from the month prior. January saw 335 sales to foreign buyers, a 13% decline from the month prior. To contrast, December saw a 52% increase compared to August, the month after the tax was implemented."

Down side? "Less foreign cash...February saw $192.8 million in sales to foreign buyers, a decline of 19% from the month before. January saw $238 million in sales, a decline of 18% from December."
See handy graph.
Source: Betterdwelling.com/city/vancouver