On December 11, 2012, the Finance Minister announced further sanctions on Iran that include an asset freeze and dealings prohibition on 98 new entities and one additional individual (http://www.international.gc.ca/sanctions/iran.aspx?view=d)
Also, the following items are prohibited for export to Iran: “different types of goods used in shipbuilding, mineral exploration, mining, metal production, and telecommunications industries; vessels designed to transport or store crude oil or its products; hard currency totalling $40,000 or more in value; etc..”.
All members of the Iranian-Canadian community, who have intentions to sell their properties in Iran and transfer the funds to Canada for investment, are greatly affected by these sanctions, together with other self-imposed limitations by lending institutions against Iranian Canadians, such as TD-Canada Trust. http://www.cbc.ca/news/canada/toronto/story/2012/07/11/iranian-canadian-td-accounts269.html ) This is systematically reducing the number of Iranian-Canadians in the real estate market.
As a real estate salesperson, I have firsthand experience in dealing with Iranian-Canadians as buyers and sellers in the GTA. In certain areas, this community constitutes up to 80% of real estate transactions. The limitaion imposed on Iranian- Canadians will greatly affect property values in those areas and will have a negative impact on the real estate market in the GTA.