South Forest Hill Residences.How much is the house price per square meter in Canada? Unlike in China, Canadian houses are not sold by how much per square meter, but by how much a house or an apartment costs.Please Visit: South Forest Hill Residences to Get Your VVIP Registration Today!
Greater Vancouver is the region with the highest house prices, with the composite benchmark price of the MLS house price index reaching C $1,042,100 in November, down 1.4% from the same period last year and 1.9% from October this year. Victoria, which also belongs to British Columbia, costs C $686400.
Benchmark price trend of various types of housing in Greater Vancouver from January 2005 to January 2019.
Take the following typical apartment in Vancouver as an example, the two-bedroom, two-bathroom and one-bedroom garage, with a floor area of 79 square meters, sells for 649000 Canadian dollars (about 3.32 million yuan), which translates to 42000 yuan per square meter.
Prices in Greater Toronto, Ontario, another popular city for Chinese families to buy homes, were C $763600 in November, down 2.7% from a year earlier and 0.36% from October. During the same period, the house price in Hamilton, Ontario is C $581900 and Ottawa C $393600.
Canada’s home ownership rate is currently 70%, the highest in the world, while the home ownership rate in the United States was about the same before the bursting of the housing bubble; the real estate industry currently accounts for 12% of Canadian GDP, and real estate was one of the main drivers of the economy during the US housing bubble.
Wall Street gold short seller Marc Cohodes, who has been shorting the Canadian real estate market since 2015, once told the media:
Canada’s housing bubble is no less than that of the subprime crisis in the United States, and he called Vancouver’s crazy housing market a mixture of money laundering, speculation and low interest rates.
