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Not only are house prices high, but even rents are rising year after year. The average rent in Toronto is as high as $2300! However, in Canada, where house prices are so hot, there is a place where land sells for only $1.
Mcadam is a small town in New Brunswick, Canada. The railway station here is very famous and was rated as the most beautiful public place in Canada as early as 2013, attracting a large number of tourists.
But the town is too remote, about 70 kilometers from the provincial capital Fredericton. A large number of young people choose to develop in big cities in order to seek more opportunities, so the population of the town is getting smaller and smaller, and most of them are left behind. The resident population of the town, which covers an area of 14.28 square kilometers, has been hovering around 1000.
In order to increase the population of the town, the government renovated the old house and put it up for sale. By 2018, the town’s population had grown to nearly 1300. In the end, Mayor Ken Stannix decided to sell land for $1 to attract more people to settle down and achieve the goal of reaching 1300 people in the town.
Low prices must have other limitations. The buyer must build the house within 2 years after buying the land, and the gross area must not be less than 1200 square feet, the width of the house is between 65 and 85 feet, and the depth is not less than 100ft. In addition, the buyer also needs to pay a deposit of $2500 in advance. If the house is not built on time, the deposit will become the income of the local government. At the same time, the government will provide tap water and sewage pipes to homeowners free of charge.
After the news was released, it immediately attracted a large number of people to the town, and the 16 pieces of land sold were quickly purchased. So far, 10 of them have completed all trading procedures, while the other 6 are still in the process of trading.
Mayor Stannix is quite satisfied with the result, saying proudly in an interview: land sales is a good idea, but more importantly, people who move to the town have brought new ideas and vitality to the whole community.
With this precedent, the town of Mcadam will also implement an abandoned house demolition plan in the future to increase the value of real estate in the area. At the same time, more land can be vacated as a home for new residents.